Mumbai, July 25 -- The Indian rupee declined 16 paise to settle at 86.56 (provisional) against the US dollar on Friday, tracking negative domestic equity markets and surging global crude oil prices. Indian shares fell sharply, with uncertainty around U.S. trade deal, signs of slowing earnings growth and continued selling by foreign investors weighing on markets. The benchmark BSE Sensex tumbled 721.08 points, or 0.88 percent, to 81,463.09, extending losses from the previous session. The broader NSE Nifty index dropped 225.10 points, or 0.90 percent, to 24,837. Meanwhile, a strengthening American currency overseas and foreign fund outflows further weighed on the local unit. DXY, which tracks the greenback's performance against a basket of ...