It improved further to a high of 59.78 on initial firmness in domestic stocks.
It later turned negative in tandem with fall in local equities and touched a low of 60.24, before settling at 60.11, showing a fall of three paise from weekend close.
The benchmark BSE Sensex on Monday closed lower by 16.05 points.
FIIs pumped in Rs. 232.46 crore last Friday, as per provisional data.
The benchmark six-month premium payable in September edged up to 242.5-244.5 paise from 242-244 paise last weekend.
Far forward contracts maturing in March, 2015 also rose to 492-494 paise from 489-491 paise.
The Reserve Bank of India fixed the reference rate for dollar at 59.9483 and for the euro at 82.1525.
The rupee fell against the pound to 99.69 from last close of 99.61. It also dropped to 58.22 per 100 Japanese yen from 57.81. It dipped to 82.53 per euro from 82.35.
NOTE: The Forex and Money markets will remain closed tomorrow, April 8, 2014 for observing 'Ram Navmi'.