The Indian rupee fell 6 paise to 94.69 against the US dollar in early trade on Tuesday, weighed down by expectations of a Federal Reserve rate hike and broad-based dollar strength.
Forex traders said FII outflows and a weaker start to the morning trade at the domestic equity markets put further pressure on the rupee, while a decline in crude oil prices cushioned against a steeper decline.
The rupee opened at 94.73 against the US dollar before rising to 94.69, down 6 paise from its previous close.
Experts predict the rupee will remain in a range of 94.20 to 94.90 for the day, with upticks to the dollar expected to be sold off.
