Rupee drops 18 paise to 93.94 against US dollar amid foreign fund outflows

• The rupee fell 18 paise to 93.94 against the US dollar in early trade on Wednesday.
• Sustained foreign fund outflows kept investors on edge, contributing to the rupee's decline.
• A drop in global crude oil prices, a weaker greenback, and strong domestic equity markets prevented sharper losses.
• The local unit opened at 93.94 against the US dollar and maintained that level.
• Foreign institutional investors sold equities worth Rs 8,009.56 crore on Tuesday.