On Friday, the rupee had settled 29 paise higher at 73.32 against the dollar The rupee gave up early gains to close at 73.56 against the dollar on Monday.
That marked a loss of 24 paise, or 0.3 per cent, in the rupee against the greenback as against the previous close of 73.32.
Capital outflows coupled with strengthening of the dollar overseas hurt the rupee in the forex market, according to analysts.
The rupee - battered by rising crude oil prices and the dollar - is down more than 15 per cent so far this year.