Rupee falls 3 paise to 88.77 against dollar

Mumbai: The rupee fell 3 paise to close at 88.77 against the US dollar on Tuesday, weighed down by a strong American currency overseas and unabated foreign capital outflows.

The domestic currency traded in a tight range as investors preferred to remain on the sidelines amid uncertainties over global trade, forex traders said.

At the interbank foreign exchange market, the rupee opened with a marginal gain at 88.72 against the US dollar and touched the intra-day low of 88.79 and a high

of 88.79.

The local currency finally settled at 88.77, registering a loss of 3 paise from its previous closing level.

On Monday, the rupee gained 5 paise to settle at 88.74 against the US dollar.