 "Rupee hits 1-month low")
The rupee fell to as much as 61.11, the lowest since August 14, tracking weaker Asian currencies.
It was last trading at 61.04 versus Friday's close of 60.65/66.
Traders cited sustained dollar buying from foreign banks.
USD/INR pared some gains after RBI Governor Rajan's comments. Rajan said India's macroeconomic indicators are improving and inflation has been coming down.
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CPI data on Friday, WPI data on Monday had limited impact.