The rupee depreciated by 10 paise to 82.66 against the US dollar on Tuesday amid a rise in crude oil prices and unabated foreign fund outflows from the domestic equity market.

Positive sentiments in the equity markets across the globe failed to address the concerns of investors who are awaiting the interest rate decision by the US Federal Reserve due on Wednesday.

At the interbank foreign exchange, the domestic unit opened strong at 82.54 against the dollar. During the day, it went as high as 82.53 and hit the lowest level of 82.70. It finally settled at 82.66 (provisional) against the American currency, registering a fall of 10 paise against its previous close.

On Monday, the rupee settled at 82.56 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.02 per cent higher at 103.30.

Global oil benchmark Brent crude futures rose by 0.98 per cent to USD 74.51 per barrel.

The 30-share BSE Sensex closed 445.73 points or 0.77 per cent higher at 58,074.68 points while the broader NSE Nifty jumped 119.10 points or 0.70 per cent to reclaim the 17,100-level and ended at 17,107.50 points.

Foreign Institutional Investors (FIIs) remained net sellers in the domestic capital market on Monday as they offloaded shares worth Rs 2,545.87 crore, according to exchange data.

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