The rupee finally closed trading Monday at 50.30/32, 0.4 percent weaker than Friday’s close of 50.09/12.
The partially convertible rupee was down 20 paise from Friday's close and came 30 paise closer to its record low of 50.60 on November 20.
Dollar selling by state-run banks probably on behalf of the central bank prevented further decline for the rupee.
Dealers said heavy losses in the local share market, after an early rally, also hurt sentiment for the rupee. Indian shares fell 2.8 per cent as shaky European markets and deepening economic gloom triggered a wave of foreign fund selling.
