The rupee declined 81 paise to 76.98 against the US dollar in opening trade on Monday as intensifying geopolitical risks due to the Russia-Ukraine conflict pushed investors to the safe-haven appeal of the greenback.

Forex traders said escalating tensions between Russia and Ukraine kept crude oil prices at an elevated level and heightened worries about domestic inflation and wider trade deficits. Besides, sustained foreign fund outflows and a lacklustre trend in domestic equities also weighed on investor sentiment.