The Indian rupee fell marginally by four paise to 62.16 against the US dollar in early trade, extending losses for the fourth straight session at the Interbank Foreign Exchange market.
The rupee had lost 29 paise to close at 62.12 against the dollar on Friday.
Monday's drop was in line with weak local equities amid increased demand for the American currency from importers.
Forex dealers said besides a lower opening in the domestic equity market on fears of a rate hike by the Reserve Bank of India, higher demand for the American currency from importers put pressure on the rupee but dollar's weakness against other currencies overseas, capped the fall.
Meanwhile, the BSE Sensex fell 36.56 points, or 0.18 per cent, to 20,679.02, at the same time on Monday.