The rupee on Tuesday declined by 11 paise to close at 74.35 against the US currency due to a stronger dollar in the overseas markets.
At the interbank foreign exchange market, the domestic currency opened flat at 74.23 against the American currency but later slipped to close at 74.35.
“Rupee opened on a flat note but fell in the latter half of the session following weakness in domestic equities. Broader strength in the dollar against its major crosses also weighed on the currency,” said Gaurang Somaiyaa, Forex & Bullion Analyst, Motilal Oswal Financial Services.