<h1>Rupee Drops to 87.31 Against Dollar Amid Crude Price Volatility and Foreign Fund Outflows, Markets Close Lower</h1> The rupee fell by 36 paise to 87.31 against the US dollar due to volatile crude oil prices and continued foreign fund outflows. Despite a weaker dollar, the domestic currency was adversely affected by a sell-off in the equity market. The rupee experienced fluctuations, reaching a low of 87.36 and a high of 87.16, before closing at 87.31. The dollar index decreased by 0.15%, while Brent crude increased to USD 70.56 per barrel. Domestic markets closed lower, with significant drops in both the BSE Sensex and Nifty. Foreign institutional investors sold equities worth Rs 485.41 crore, and forex reserves decreased by USD 1.781 billion.