The rupee is trading at 61.4375/4425, off day's low of 61.5050 but below Friday's 61.14/15 close.
Caution prevails ahead of the RBI policy review on Tuesday.
The RBI expected to keep repo rate on hold but tone in statement to be key.
The rupee hit a 1-1/2 month low on Friday of 61.62.
Asian currencies retreat broadly on upward revision to U.S. GDP growth.
The Nifty is up 0.1 percent.
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(Reporting by Gaurav Pai)