The rupee slipped 11 paise to 87.36 against the US dollar in early trading on Monday, pressured by higher demand for the greenback.
Traders said positive foreign fund inflows and easing crude oil prices helped limit sharper losses, while market participants awaited US Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Symposium later in the day.
The domestic currency opened at 87.37 per dollar and later settled at 87.36, compared with its previous close.