The rupee fell by 19 paise to Rs. 54.05 in early trade on Tuesday at the Interbank Foreign Exchange, due to dollar demand from importers.
Forex dealers said a lower opening at the domestic equity market also put pressure on the rupee.
The rupee had gained 31 paise to close
at over one-week high of Rs. 53.86 in Monday's trade on sustained dollar selling by exporters.
Meanwhile, the BSE benchmark Sensex fell by 75.34 points, or 0.39%, to 19,256.35 in early trade on Tuesday.