The local unit had gained 28 paise to close at over one-week high of 54.28 a dollar on Friday on robust capital inflows and sustained dollar selling by exporters and banks.
Forex dealers attributed fall in the rupee to dollar's gains against other currencies, including yen, in the global markets.
Meanwhile, the BSE benchmark Sensex was up by 46.40 points, or 0.24 per cent, at 19,729.63 in early trade today.
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