Rupee takes a hit too

The rupee ended down 0.45 per cent against the dollar because banks bought the dollar noting its appreciation against global currencies following Greece's debt rating downgrade, dealers said.

The Indian unit ended at Rs 44.6400 per dollar compared with Rs 44.4400 per dollar Tuesday. It had slid to an over one-week low of 44.7500 per dollar intraday.

“The downgrade of Greece’s debt lifted the dollar against most global currencies, especially the euro. Asian currencies also declined today and thus the rupee slid,” said a dealer with a private bank.

Global currencies slumped to multi-week lows against the dollar as risk appetite took a beating.