Mumbai: The Indian rupee fell sharply by 51 paise on Tuesday to settle at 87.23 against the US dollar due to month-end dollar demand by importers and oil marketing companies, covering of short positions due to the expiry of the futures contract, uncertainty over US trade tariffs, and outflows from foreign portfolio investors. It was the rupee’s worst day in the last three weeks. At the interbank foreign exchange, the rupee opened weak at 86.83 and kept losing ground through the day before settling at 87.23, that is 51 paise lower than its previous close. The dollar index, which gauges...