India, July 16 -- The rupee fell 16 paise to close at 96.32 (provisional) against the US dollar on Wednesday, weighed down by heightened tensions in West Asia and a rise in global crude oil prices.

However, positive sentiments in the domestic equity markets and a weaker greenback prevented a sharper decline in the local unit, forex traders said.

At the interbank foreign exchange market, the rupee opened at 96.12 and traded in the range of 96.04-96.32 during the session. It settled at 96.32 (provisional), down 16 paise from its previous close.

The rupee depreciated 48 paise to close at 96.16 against the US dollar on Tuesday. The US military reimposed a naval blockade on Iran and intensified its airstrike campaign early on Wednesday, hit...