Rupee falls 11 paise on stronger greenback

The rupee on Tuesday declined by 11 paise to close at 74.35 (provisional) against the US currency due to a stronger dollar in the overseas markets. At the interbank foreign exchange (forex) market, the domestic currency opened flat at 74.23 against the American currency, but later slipped to close at 74.35.

During the session, the local unit touched an intra-day high of 74.21 and a low of 74.36 against the US currency. On Friday, the rupee had settled at 74.24 against the US dollar. The forex market was closed on Monday on account of 'Parsi New Year'. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent higher at 92.68.