The rupee lost 23 paise to trade at 54.75 against the dollar in early trade today on the Interbank Foreign Exchange market amid weak stock markets.
Dealers attributed the rupee's fall to dollar gains against the euro and other currencies in overseas market and a lower opening in the domestic stock market.
The rupee had ended just one paise down at 54.52 against the dollar on Friday last week.
Meanwhile, the BSE benchmark Sensex fell by 98.34 points, or 0.53 per cent, at 18,144.22 in early trade.
