<p>Mumbai: The <a href="https://www.deccanherald.com/tags/indian-rupee">rupee </a>declined 16 paise to settle at 92.01 (provisional) against the US dollar on Wednesday, weighed down by a sharp rise in global crude oil prices and a stronger greenback as the war in West Asia raged on.</p>.<p>FII outflows and weak sentiments in the domestic equity markets further pressured the local unit, according to forex traders.</p>.<p>At the interbank foreign exchange, the rupee opened at 91.92 against the <a href="https://www.deccanherald.com/tags/dollar">US dollar </a>and traded in the range of 91.85-92.06 before settling at 92.01 (provisional), down 16 paise from its previous close.</p>.<p>The rupee staged a strong recovery from its record low against the US dollar on Tuesday, gaining 36 paise to settle at 91.85.</p>.<p>"The rupee declined on weak domestic markets and overnight recovery in crude oil prices. Risk-off sentiments in the global markets and FII outflows may continue to weigh on the rupee. Markets will also watch out for geopolitical developments in West Asia, " Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan, said.</p>.<p>"Traders may take cues from CPI data from the US. USD-INR spot price is expected to trade in the range of 91.70-92.40," he added.</p>.Global shipping player Maersk to levy emergency bunker surcharge amid West Asia crisis.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.14 per cent higher at 98.96.</p>.<p>Brent crude, the global oil benchmark, was trading higher by 5.44 per cent at $92.58 per barrel in futures trade.</p>.<p>On the domestic equity market front, the Sensex tumbled 1,342.27 points to settle at 76,863.71, while the Nifty plummeted 394.75 points to 23,866.85.</p>.<p>Foreign institutional investors sold equities worth Rs 4,672.64 crore on a net basis on Tuesday, according to exchange data. </p>
<p>Mumbai: The <a href="https://www.deccanherald.com/tags/indian-rupee">rupee </a>declined 16 paise to settle at 92.01 (provisional) against the US dollar on Wednesday, weighed down by a sharp rise in global crude oil prices and a stronger greenback as the war in West Asia raged on.</p>.<p>FII outflows and weak sentiments in the domestic equity markets further pressured the local unit, according to forex traders.</p>.<p>At the interbank foreign exchange, the rupee opened at 91.92 against the <a href="https://www.deccanherald.com/tags/dollar">US dollar </a>and traded in the range of 91.85-92.06 before settling at 92.01 (provisional), down 16 paise from its previous close.</p>.<p>The rupee staged a strong recovery from its record low against the US dollar on Tuesday, gaining 36 paise to settle at 91.85.</p>.<p>"The rupee declined on weak domestic markets and overnight recovery in crude oil prices. Risk-off sentiments in the global markets and FII outflows may continue to weigh on the rupee. Markets will also watch out for geopolitical developments in West Asia, " Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan, said.</p>.<p>"Traders may take cues from CPI data from the US. USD-INR spot price is expected to trade in the range of 91.70-92.40," he added.</p>.Global shipping player Maersk to levy emergency bunker surcharge amid West Asia crisis.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.14 per cent higher at 98.96.</p>.<p>Brent crude, the global oil benchmark, was trading higher by 5.44 per cent at $92.58 per barrel in futures trade.</p>.<p>On the domestic equity market front, the Sensex tumbled 1,342.27 points to settle at 76,863.71, while the Nifty plummeted 394.75 points to 23,866.85.</p>.<p>Foreign institutional investors sold equities worth Rs 4,672.64 crore on a net basis on Tuesday, according to exchange data. </p>