Forex traders said the strengthening of the greenback vis-a-vis other currencies overseas, foreign fund outflows and cautious opening in domestic equities added pressure to the domestic unit.
The local unit, however, pared some losses and was quoted at 70.16 against the American currency at 0937 hrs.
The Indian rupee Friday had closed at 69.92 against the US dollar.
Foreign institutional investors (FIIs) pulled out Rs 1,245.14 crore on a net basis Friday, provisional data showed.
Brent crude futures, the global oil benchmark, rose 0.27 per cent to USD 70.81 per barrel.
Meanwhile, domestic bourses opened on a cautious note Monday. The BSE gauge Sensex was trading at 37,448.91, lower by 14.08 points while the NSE Nifty was trading at 11,265.15 down by 13.75 points in early trade.
After the near collapse of trade talks with China last week, Trump on Friday imposed a hefty duty on import of Chinese products from 10 per cent to 25 per cent worth more than USD 200 billion and asking for a similar increase on tariff on the rest of the Chinese import of over USD 300 billion.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)