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of <h1>Indian rupee falls 12 paise to 85.92 against dollar amid rising crude prices and foreign fund outflows</h1> The Indian rupee depreciated 12 paise to close at 85.92 against the US dollar due to rising global crude oil prices and a strengthening dollar. Foreign fund outflows and delays in the India-US trade deal further pressured the currency. The dollar index rose 0.03 percent while Brent crude increased 1.56 percent. The Reserve Bank intervened to protect the rupee as foreign portfolio investors sold equities worth Rs 1,614.32 crore. India's forex reserves declined USD 3.049 billion to USD 699.736 billion. Wholesale price inflation turned negative at 0.13 percent in June after 19 months.
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