Rupee falls from one-week high

The rupee drops to 55.64/65 versus the dollar, after earlier rising to a one-week high of 55.25; now on par with its 55.65/66 close on Monday.

Rupee declines as oil firms, the largest buyers of dollars in the domestic market, step up dollar purchases.

Traders said the retreat in the euro from its highs also boosting the dollar. Euro trading at $1.2474, below the session high of $1.2542.