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We present evidence of a drastic renormalization of the optical conductivity of graphene on resulting in almost full transparency in the ultraviolet region. These findings are attributed to resonant excitonic effects further supported by ab initio Bethe-Salpeter equation and density functional theory calculations. The orbitals of graphene and Ti- orbitals of are strongly hybridized and the interactions of electron-hole states residing in those orbitals play dominant role in the graphene optical conductivity. These interactions are present much below the optical band gap of bulk . These results open a possibility of manipulating interaction strengths in graphene via orbitals, which could be crucial for optical applications.