Rupee declined 3 paise to hit 83.88 against the US dollar in early trade on Monday amid fluctuating crude oil prices.
Currency traders are awaiting the PMI manufacturing data set to be released later in the day.
The rupee rose 4 paise on Friday to close at 83.85 against the US currency.
Meanwhile, Sensex and Nifty hit fresh all-time high levels in early trade on Monday. While Sensex rose 164.2 points to 82,527.60, Nifty was up 55.2 points to reach 25,291.10.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, remained flat at 101.
