Indian Rupee Declines 16 Paise to 96.13 Against U.S. Dollar in Early Trade

The Indian rupee depreciated 16 paise to 96.13 against the U.S. dollar in early trade on Tuesday, pressured by firm crude oil prices and foreign fund outflows.

Brent crude traded 1.51% higher at $106.87 per barrel amid supply concerns through the Strait of Hormuz, while Foreign Institutional Investors offloaded ₹5,353.22 crore of equities.

Analysts note the domestic industrial output grew 8% in August as the Reserve Bank completes a bond sales program with strong demand.