Rupee closes down by nine paise against US dollar

Mumbai: The rupee closed down by nine paise against the US dollar on Tuesday.

Earlier in the day, the rupee strengthened by 20 paise to trade at over seven-month high of 60.65 against the US dollar on Tuesday on heavy capital inflows amid a higher opening in the equity market.

Dealers said increased selling of the American currency by banks and exporters also supported the rupee but dollar's range-bound movements against other currencies overseas, limited the gains.

The rupee had appreciated 22 paise to close at an over seven-month high of 60.85 against the US currency in the previous session on heavy capital inflows into equities that surged to a fresh record.

Meanwhile, the benchmark BSE Sensex rose 67.24 points, or 0.30 per cent, to trade above 22,000 level at 22,002.07 in early trade today.