<h1>Rupee gains 16 paise to 85.76 against dollar on weak greenback and falling crude prices</h1> The rupee strengthened 16 paise to close at 85.76 against the US dollar, driven by a weakening greenback and declining global crude oil prices. Foreign fund outflows and uncertainties surrounding ongoing bilateral trade talks between the countries limited further gains. A commerce ministry team is conducting four-day trade agreement discussions. The central bank maintained support at the 86.00 level. Brent crude fell 0.43% to $68.91 per barrel while the dollar index declined 0.11%. Domestic equity markets rose with foreign institutional investors purchasing equities worth Rs 120.47 crore. Export data showed unchanged figures at $35.14 billion in June with an $18.78 billion trade deficit.