The Indian rupee slumped 27 paise to 73.17 against the US dollar in opening trade on Wednesday tracking weak domestic equities and strong American currency. At the interbank foreign exchange, the domestic unit opened lower at 73.13 against the dollar, and lost further ground and touched 73.17, registering a fall of 27 paise over its previous close. On Tuesday, the rupee had settled at 72.90 against the US dollar.

"The course ahead for the currency could remain uneven amid uncertainties around the development of the pandemic situation and the economic recovery," Reliance Securities said in a research note. Most Asian currencies have started flat to weaker against the US dollar this morning and could weigh on the local unit, the note added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.08 per cent to 89.90.