The Indian rupee extended decline for the third consecutive session on Tuesday by 33 paise to close at 74.58 (provisional) against the US dollar as strong American currency and elevated crude oil prices continued to weigh on investor sentiments. Muted domestic equities and dollar buying by banks on behalf of importers also dragged the local unit down. At the interbank foreign exchange market, the local currency opened at 74.36 against the American currency and witnessed an intra-day low of 74.60 during the session. The rupee finally settled at 74.58, down 33 paise over its previous close of 74.25 against the greenback. The dollar index, which gauges the greenbacks strength against a basket of six currencies, was trading higher at 95.37.
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