The Indian rupee fell 2 paise to close at 95.76 (provisional) against the US dollar on Wednesday as a sharp rise in global crude oil prices amid heightened tensions in West Asia kept markets on edge. A sharp decline in domestic equity markets put further pressure on the local unit, while possible RBI intervention and foreign fund inflows lent support. Local shares ended lower on Wednesday to extend losses for a seventh straight session as elevated oil prices and rising global bond yields amid an apparent impasse in Middle East peace talks dented investors’ appetite for riskier assets. The BSE Sensex dropped 325.78 points (0.42%) to close at 76,909.68, while the Nifty 50 shed 76.60 points (0.32%) to finish at 24,078.30. At the interbank foreign exchange, the rupee opened at 95.72 and traded in a very narrow range of 95.72-95.76. It eventually settled at 95.76 (provisional), down 2 paise from its previous close.
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