The Indian rupee drifted lower against the U.S. dollar in late Asian deals on Tuesday, as the later got a boost on expectations of rate hike by the Federal Reserve next year.
Month end demand for the dollar also contributed to rupee's weakness.
The rupee fell to a 5-day low of 63.455 against the greenback, compared to yesterday's closing value of 63.225. The next possible support for the rupee lies around the 64.00 zone.
The material has been provided by InstaForex Company – www.instaforex.com