Mumbai, June 3 -- The rupee on Tuesday dropped 20 paise to close at 85.58 on rising demand for the US dollar from foreign banks and importers, dealers at the Forex Market said.
Advancing 23 paise in the previous session, the local unit opened weak at 85.44, falling 6 paise against USD.
Till the end of the session, it was further lost and settled at 85.58, sliding 20 paise as compared to its previous close.
The domestic unit slid owing to the strong dollar against other world currencies along with the negative equity market, the dealer informed.
The rupee recorded its day's high and low at 85.40 and 85.62, respectively, the dealer added.
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