The rupee had closed at 74.12 against the US dollar on October 1.
The Indian rupee fell by 5 paise to 74.17 against the US dollar in early trade on October 4, in line with Asian peers, amid firming US currency in the overseas market.
At the interbank foreign exchange, the rupee opened at 74.16 against the dollar, then fell to 74.17, registering a fall of 5 paise over its previous close.
The rupee had closed at 74.12 against the US dollar on October 1.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.02% higher at 94.05.
On the domestic equity market front, the BSE Sensex was trading 621.28 points or 1.06% higher at 59,386.86, while the broader NSE Nifty rose 185.80 points or 1.06% to 17,717.85.
Meanwhile, foreign institutional investors were net buyers in the capital market on Friday as they bought shares worth Rs 131.39 crore, according to exchange data.
Global oil benchmark Brent crude futures fell 0.32% to $79.03 a barrel.
The Indian rupee opened weak against the dollar this Monday morning, tracking losses in Asian and emerging market currencies on renewed concerns over China Evergrande Group’s debt trouble, said Sriram Iyer, Senior Research Analyst at Reliance Securities.
He said this week will focus on developments in Evergrande and the monetary policy meeting of the RBI and the US monthly jobs report.
Mr Iyer said the Reserve Bank of India’s Monetary Policy Committee expects the key rate to remain unchanged, but it may signal the beginning of an end to its accommodative monetary policies.
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