Indian rupee declined by 17 paise to 64.92 against the US dollar in early trade today on increased demand for the US currency from importers.
Besides, early losses in domestic equity markets weighed on the rupee, dealers said.
The dollar was weak against major world currencies which capped rupee losses, they added.
The rupee had shed 1 paisa to close at 64.75 against the US currency in the previous session.
Meanwhile, the benchmark BSE Sensex was trading lower by 75.45 points or 0.28 per cent at 26,828.66 in early deals.