Mumbai: The rupee today lost 29 paise to 54.75 against the dollar on the Interbank Foreign Exchange market, following increased demand for the US currency from importers.
Forex dealers attributed the rupee's fall to sustained demand for dollar from importers and a lower opening in the stock market.
They said, however, that the government's move to push forward economic reforms and strengthening of euro against the dollar in the global markets capped the rupee's losses.
The rupee had closed 14 paise lower at 54.46 a dollar in the previous session.
