The rupee on Tuesday declined by 10 paise to close at an 18-month low level of 75.88 against the US dollar due to persistent foreign fund outflows and concerns over inflation.
Muted domestic equities and the dollar demand from corporates also weighed on the local unit, analysts said. At the interbank foreign exchange market, the local currency opened at 75.94 against the greenback. During the day, the local unit witnessed an intra-day low of 75.95 and a high of 75.83 against the US dollar.