Halting its six-day winning run, the Indian rupee Tuesday edged lower by 43 paise to close at 68.96 to the US dollar on emergence of demand for the greenback from importers.
The local currency also came under pressure due to rising crude pressure and a caution ahead of the outcome of the Federal Open Market Committee (FOMC) meeting.
At the Interbank Foreign Exchange (forex), the domestic currency opened at 68.53 a dollar and fell further to touch the day’s low of 69.05. It finally settled at 68.96 per dollar, down 43 paise over its previous close.
The Indian rupee on Monday had surged by 57 paise to close at an over seven-month high of 68.53 against the US dollar.