The rupee declined by five paise to close at a one-month low of 65.64 against the US dollar on Tuesday on end-of-day demand for the American currency from banks amidst sustained foreign capital outflows. Intraday, it hovered in the 65.71-65.41 range.
The rupee has now dropped 37 paise, or 0.57 per cent, in two days. The rupee had last ended at 65.96 on September 29.