The Indian rupee fell 18 paise to Rs 44.54 against the US dollar in early trade on the Interbank Foreign Exchange on Monday, weighed down by a weak trend in the stock market and gains registered by the American currency against other rivals.
The domestic currency had fell by 4 paise to close at Rs 44.36/37 per dollar in the previous session on Thursday, following late dollar demand from importers.
The forex market remained closed on Friday on account of 'Good Friday'.
Forex dealers said the lower opening in the stock market and dollar gains against major currencies mainly put pressure on the Indian currency's sentiment.
Meanwhile, the Bombay Stock Exchange benchmark Sensex declined 70.89 points, or 0.36 per cent, to 19,531.34 points in early trade on Monday.