Currency watch: Rupee slips 17 paise to 87.75 against US dollar; importer demand and higher crude prices weigh on sentiment

The rupee weakened to 87.75 against the US dollar due to importer demand, rising crude oil prices, and foreign fund outflows. Despite a strong opening, the rupee faced pressure from escalating trade tensions, particularly new US tariffs on Indian imports. Foreign reserves also saw a sharp decline, while domestic equities experienced gains.