The currency was last trading at 66.03, a drop of 15 paise over Tuesday's close. Weakness in the currency market could persist if Chinese data continues to disappoint.
The rupee has lost more than 4 per cent since the start of the year and analysts fear a further down slide could happen should foreign portfolio investors continue to exit Indian stocks.
The yield on India's 10-year benchmark bond was at 7.726 per cent marginally higher, while the Sensex was trading with loses of 176 points.
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