Indian rupee has weakened on Monday against US dollar. Indian currency declined 23 paise or 0.38 percent against dollar to trade at 61.38. Rupee has witnessed a high of 61.32 and a low of 61.41. Its 52-week range was 58.34-63.91.
The Dollar index, a measure of the value of the US dollar relative to a basket of foreign currencies, rose 0.05 percent to trade at 85.68.
On Friday, Indian rupee has strengthened against US dollar as S&P upgraded India's outlook to stable. Indian currency gained 19 paise or 0.31 percent against dollar to settle at 61.16.
Sushil Finance expects USDINR is likely to trade on the negative note on the back of ratings upgrade from S&P.