The rupee gave up gains witnessed on Monday and fell past the 62 mark on sustained dollar demand. The rupee fell 23 paise against the dollar in early trade.
The Indian currency has remained resilient in the last few months, ever since the government managed to bring down the current account deficit.
India's current account deficit is expected to decline to $45 billion, Finance Minister P Chidambaram said, while presenting India's Interim Budget on Monday.
In late Jan and early Feb, a number of emerging market currencies were jolted by thoughts of the Fed's decision to taper its bond buying programme. However, the Indian rupee remained strong, thanks to an improvement in India's economic fundamentals. Check currency rates here
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