The rupee lost 22 paise to close at a three-week low of 71.49 against the US dollar on Thursday tracking heavy sell-off in domestic equities amid rising concerns over the outbreak of coronavirus.
Forex traders said most Asian currencies declined after the US Federal Reserve kept its key policy rates steady.
Moreover, market participants are also assessing the economic implications of the coronavirus outbreak and awaiting cues from the Union Budget.
At the interbank foreign exchange market, the domestic currency opened weak at 71.39 a dollar.
It finally settled for the day lower by 22 paise at 71.49, a level not seen since January 8. On Wednesday, the local unit had closed at 71.27 against the greenback.
