India, July 24 -- The rupee declined 4 paise to close at 96.57 (provisional) against the US dollar on Thursday, as heightened hostilities in West Asia kept global crude oil prices elevated.

However, a likely intervention by the RBI provided support to the local unit, forex traders said.

At the interbank foreign exchange, the rupee opened at 96.53 and traded in a narrow range of 96.45-96.59 during the day before eventually settling at 96.57 (provisional), down 4 paise from its previous close.

The rupee depreciated by 28 paise to close at 96.53 against the US dollar on Wednesday.

"The rupee traded with a negative bias on weak domestic markets and surge in crude oil prices, which continued to rise as the US struck Iran for the 12thA cons...