Dealers attributed the fall in rupee to dollar's gains against the euro and yen overseas.
However, a higher opening in the domestic stock market limited the fall of the domestic currency.
The rupee had tumbled 16 paise to close at almost a nine-month low of 62.03 against the dollar on Friday following sustained dollar demand from importers, including oil firms.
Meanwhile, a sluggish agriculture and manufacturing sector performance restricted the GDP growth rate at 5.3 percent in the second quarter, raising the clamour for a rate cut by the RBI in its policy due on Tuesday.
The benchmark BSE Sensex rose by 94.55 points, or 0.33 percent, at 28,788.54 in morning trade on Monday.