The rupee slipped 8 paise to 95.78 against US dollar in early trade on Wednesday on elevated crude oil prices as fresh US strikes dampened optimism for an imminent US-Iran peace deal.

Forex traders said escalating US-Iran conflict is again boosting safe-haven demand for the dollar. Moreover, Brent oil remained well bid at USD 98 levels as risk aversion, geopolitical risk and war clouds in West Asia kept it higher.