Rupee ends 22 paise weaker at 94.23 against U.S. dollar

The rupee depreciated 22 paise to close at 94.23 against the U.S. dollar due to higher crude oil prices and a strengthening American currency. Global fuel prices remain uncertain due to unrest in the Strait of Hormuz, triggering a massive selling in domestic equity markets and outflow of foreign funds. This has unsettled the forex market.