The rupee edged lower by 5 paise to close at 74.74 against the US dollar on Tuesday as stronger greenback, elevated crude oil prices and foreign fund ouflows weighed on forex market sentiment.
At the interbank foreign exchange, the rupee opened at 74.65 a dollar and later touched an intra-day high of 74.57 and a low of 74.80. The local unit finally ended the day at 74.74, down 5 paise from the previous close.
In the previous session on Friday, the rupee had settled at 74.69 against the greenback.
The forex market was closed on Monday as Maharashtra had declared February 7 as public holiday to mourn the demise of legendary singer Lata Mangeshkar.