The rupee fell by five paise against the US currency in early trade on Monday after increased demand for dollar by oil importers.
At the Interbank Foreign Exchange (forex) market, the domestic currency was quoted at 48.15 a dollar in the early trade, down by 5 paise over the previous close of 48.10 a dollar.
Dealers said month-end dollar demand from importers and refiners weighed on the rupee sentiments.
However, weakness in dollar against other major Asian currencies capped further fall in rupee, they added. On Friday last week, the rupee closed higher by 50 paise to end at 48.10/11 against the American currency.