Reuters Market Eye - The rupee falls to 54.3525/3600, tracking negative local shares and heavy losses in the euro in Asian trade. The pair last closed at 54.175/185.
Traders said a few stopgaps were getting triggered, which prompted dollar buying. The Sensex was down 0.24 percent, while the Nifty was down 0.16 percent, after the two indices fell for a seventh consecutive session on Monday.
The euro was hit by fears that future bank rescues in the euro zone would come with the same stern conditions seen in Cyprus' deal.
(Reporting by Shamik Paul)
