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The rupee was lower on global dollar strength. At 10:35 am, the rupee was trading at Rs 61.60 compared with previous close of Rs 61.54 per dollar.
As month end dollar demand from importers begins, the rupee may trade with a weakening bias, said currency dealers.
Strong fund inflows continue into debt, with data showing six consecutive sessions of buying through Thursday, totalling over $2.5 billion, helping support the rupee.
Local stocks were down 0.2%, in line with Asian peers.
The US dollar started Monday near a two-month high, having enjoyed a solid comeback last week after a string of mostly upbeat data convinced markets the Federal Reserve will continue its gradual withdrawal of stimulus.
