Rupee falls 28 paise in 2 sessions Foreign fund inflows limit the drop

Extending losses for the second straight session, the rupee on Tuesday fell by 17 paise to end at 74.43 against the US currency due to a stronger dollar in the overseas markets. The rupee opened on a negative note at 74.40 per dollar as against its previous close of 74.26 at the interbank foreign exchange (forex) market. It hovered in the range of 74.33 to 74.46 per dollar during the day before closing at 74.43. The domestic currency has lost 28 paise in the two trading sessions to Tuesday. Forex traders said foreign fund inflows and positive domestic equities helped limit the depreciation bias of the local unit.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.10 per cent to 93.04.

Brent crude futures, the global oil benchmark, rose 0.98 per cent to $69.72 per barrel.