Forex markets are closed on Wednesday for the annual closing of banks. Domestic equity as well as commodity markets, however, are operating normally. The money markets will also remain closed on April 2 on account of Ram Navami.

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On Tuesday, the rupee had settled on a flat note at 75.60 against the dollar.

Crude oil benchmarks, meanwhile, opened the month mixed on Wednesday, following their biggest-ever quarterly and monthly losses, overshadowed by fears of global oversupply as data showed a bigger-than-expected rise in inventories in the United States.

Asian stocks clung to gains on Wednesday, helped by a bounce in Australian shares, but risks for equities remain large as the coronavirus pandemic rattles the underpinnings of the global economy.

(With inputs from Reuters)