India, April 30 -- The rupee depreciated 14 paise to close near its all-time low at 94.82 (provisional) against the US dollar on Wednesday, pressured by rising Brent crude oil prices, hovering around $115 per barrel, and continued foreign capital outflows.

Forex traders said the elevated crude oil price is likely to sharply impact India's import costs, while the ongoing West Asia crisis and concerns over potential wider conflict are fuelling investor anxiety. Also, analysts said that investors were awaiting cues from the upcoming US Federal Reserve policy decision. Moreover, heavy foreign institutional investor (FII) selling so far this year further dented investor sentiment.

At the interbank foreign exchange market, the rupee opened at...