Rupee falls 14 paise to 92.42 against US dollar

MUMBAI: (Mar 17) The rupee lost 14 paise and traded at 92.42 against the US dollar in early deals on Tuesday, as it failed to resist pressure from rising crude oil prices and the incessant withdrawal of foreign funds amid the heightened West Asia crisis.

Subdued domestic equity markets and elevated American currency also weighed on the local unit even as investors moved cautiously, awaiting the interest rate decision of the US Federal Reserve, according to forex traders.

At the interbank foreign exchange, the local unit opened at 92.35 and fell further to trade at 92.42 against the US dollar, registering a 14-paise decline from its previous closing level.