The Indian rupee plunged by 32 paise to close at 73.42 against the US dollar on Tuesday, tracking a strong American currency in the overseas market and mixed trend in domestic equities. Forex traders said the fall in the domestic unit was in line with other Asian peers.

At the interbank foreign exchange market, the rupee opened at 73.12 and dropped to a low of 73.44 in the day trade, and finally settled at 73.42 against the greenback, down 32 paise over its previous close. On Monday, the local unit settled at 73.10 against the USD. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.22 percent higher at 92.23.

Meanwhile, Brent crude futures, the global oil benchmark, fell 0.01 percent to USD 72.21 per barrel.   Foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs 589.36 crore, according to the exchange data.

On the domestic equity market front, the BSE Sensex ended 17.43 points lower at 58,279.48, while the broader NSE Nifty declined 15.70 points to 17,362.10.

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