Mumbai, Sep 11: Inflationary risks along with broadly negative global cues depressed the Indian rupee to a new low of 72.74 to the US dollar during the late afternoon session on Tuesday.

At 3.35 p.m. the rupee traded around 72.64 per dollar, against the previous close of 72.45 per dollar at the Inter-Bank Foreign Exchange Market.

According to analysts, expectations of the higher overall inflation rate, growing protectionism in global trade and an increasing outflow of foreign funds from the country's equity market have subdued the Indian currency.

(The above story first appeared on LatestLY on Sep 11, 2018 03:57 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).