The Indian rupee extended its early decline against the U.S. dollar in evening deals on Tuesday, as regional stocks declined on Fed rate hike concerns.

The benchmark BSE Sensex ended the session lower by 112.47 points or 0.41 percent at 27,531.41, while broader Nifty index closed at 8,339.35, down 30.90 points or 0.37 percent from its previous close.

Breaching the key 64 level, the rupee fell to a 12-day low of 64.0080 against the greenback. This is a 0.8 percent decline from Monday's closing value of 63.5050. The rupee may possibly find downside target around the 65.00 mark.

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