The rupee weakened by 23 paise to trade at fresh 30-month low at 68.69 against the American currency in early trade on Monday as the dollar firmed up in the overseas market.
Forex dealers said an increased demand for the US dollar from importers and its gains against other currencies overseas weighed on the rupee but a higher opening of the domestic equity market, capped the loss.
On Thursday, the rupee ended almost flat at 68.46 against the US currency.
Forex and money markets were closed on Friday on account of ‘Shivaji Jayanti’.
Meanwhile, the benchmark BSE Sensex was trading higher by 74.32 points or 0.31% to 23,783.47 in early trade on Monday.