Increased demand for the dollar from banks and importers also put pressure on the rupee.
Dealers attributed the rupee's fall to dollar gains against the euro overseas and a lower opening in the stock market.
They said, the US dollar hovered around two-month highs against a basket of major currencies in Asia on today as investors sought the safe-haven currency given uncertainty surrounding the US presidential election.
The rupee had closed 11 paise lower at 53.81 a dollar on Friday.
Meanwhile, the BSE benchmark Sensex was down by 14.60 points, or 0.07 per cent, at 18,740.85 in the opening trade today.