India, April 29 -- The Indian rupee weakened further on Wednesday, slipping 14 paise to close at 94.82 against the US dollar, inching closer to its all-time low amid persistent global and domestic pressures.

At the interbank foreign exchange market, the rupee opened at 94.79 and fell to an intraday low of 94.86 before settling at 94.82. The currency had already declined sharply by 53 paise in the previous session.

Forex traders attributed the continued weakness to rising global crude prices, with Brent crude hovering above $114 per barrel. Higher oil prices are expected to significantly increase India's import bill and fuel inflation concerns.

Market sentiment has also been impacted by geopolitical tensions in West Asia, which have rai...