The Indian rupee slumped 24 paise to breach the 74 per US dollar level on Monday as participants turned risk-averse. At the interbank forex market, the domestic unit opened weak at 74.20 against the American currency, pared some initial losses and finally closed at 74.10, showing a fall of 24 paise over its previous close. On Friday, the rupee had settled at 73.86 against the American currency.