Rupee Declines 8 Paise to Close at 96.43 Against U.S. Dollar

The Indian rupee fell 8 paise to provisionally close at 96.43 against the U.S. dollar on Tuesday amid persistent foreign capital outflows.

A sharp decline in global crude oil prices and a weaker greenback helped mitigate deeper losses for the local currency during interbank trading.

The Reserve Bank's Monetary Policy Committee commenced its three-day meeting on Monday, with markets anticipating a 25 basis point repo rate hike.