The Indian rupee depreciated as much as 40 paise against the U.S. dollar on Monday.
The domestic currency opened at 79.44 against the greenback, and then weakened as much as 40 paise to 79.65 at close.
On Friday, the rupee had closed 0.3% higher against the dollar after the Reserve Bank of India's Monetary Policy Committee hiked the repo rate.
The currency had weakened to a record low beyond 80 twice last month.
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