INR Vs USD: On Friday, the rupee had risen by 50 paise to end at 72.50 per dollar.
The rupee slipped by 54 paise to hit an intraday low of 73.04 against the dollar on Monday, reported news agency Press Trust of India (PTI).
Increased demand for the American currency from importers, high global crude oil prices amid dollar's strength against some currencies overseas weighed on the domestic currency, traders said.
International benchmark Brent crude was trading 2.04 per cent higher at $71.61 per barrel.
The rupee is still down 13.5 per cent against the greenback so far this year.