The rupee dropped by 13 paise to 64.18 against the dollar at the interbank forex market on Tuesday amid sustained foreign fund outflows.
The rupee opened at 64.10 per dollar against last close of 64.05 per dollar. It moved in a range of 64.08 per dollar and 64.18 per dollar in morning deals.
Traders said fresh demand for the US currency from importers and dollar’s recovery against some currencies overseas weighed on the rupee.
Foreign investors pulled out around Rs 683 crore from debt and equity markets yesterday amid geopolitical tensions.
On Monday, the rupee closed with a marginal 3 paise loss at 64.05 against the American currency.