Rupee falls, next resistance at 56.28

Rupee falls as part of a global risk sell-off after details of the Spanish bank bailout renew worries about the region's debt crisis. Reports of official preparations for a Greek exit also keep investors nervous.

Rupee is likely to face near-term resistance at 56.28, the June 1 low. It may not immediately breach record low at 56.52 hit on May 31, traders say.

Gains in pair are kept in check as the BSE Sensex advanced 0.3% on rising hopes for a cut in both the repo rate and the cash reserve ratio at the RBI policy meeting on June 18.