Rupee slips 5 paise to close at 74.47 against US dollar

The rupee slipped by 5 paise to close at 74.47 (provisional) against the US currency on Tuesday as the dollar strengthened in the overseas markets and the domestic equity indices closed wit losses. Forex traders said the rupee is trading in a narrow range as investors are awaiting cues from the US Fed's policy decision due on Wednesday and month-end rebalancing.