The rupee is down more than 14% against the dollar so far this year The rupee closed 39 paise lower against the dollar on Monday, as crude oil rose and the dollar rose overseas.
The rupee moved lower against the American currency after top crude oil producer Saudi Arabia's announcement of its plans to reduce output pushed the global oil rate higher.
The rupee slipped below the 73 mark against the dollar in intraday trade, before ending the day with a loss of around 0.5 per cent.
At 72.89 against the greenback, the rupee is down more than 14 per cent so far this year.