The rupee declined by 24 paise to slip below the 87 mark against the US dollar in early trade on Wednesday, pressured by rising crude oil prices and lingering uncertainty around the India-US trade deal, which dampened investor sentiment.
According to forex dealers, month-end dollar demand from importers and continued foreign fund outflows further weighed on the domestic currency.
At the interbank foreign exchange market, the rupee opened weak and touched an early low of 87.15 against the greenback, down 24 paise from its previous close.