The rupee declined by 9 paise to settle at 83.35 against the U.S. dollar on Monday, tracking a negative trend in domestic equities.
Foreign fund outflows also weighed on the local unit, forex traders said.
At the interbank foreign exchange market, the local unit opened at 83.25 and settled at its lifetime low level of 83.35 against the dollar, registering a fall of 9 paise from its previous close.
On Friday, the rupee settled at 83.26 against the American currency. Earlier, the rupee closed at its lowest level of 83.33 against the dollar on November 13, this year.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.42 per cent lower at 103.48.
Brent crude futures, the global oil benchmark, rose 0.66 per cent to $81.14 per barrel.
On the domestic equity market front, Sensex fell 139.58 points or 0.21 per cent to settle at 65,655.15 points. The Nifty declined 37.80 points or 0.19 per cent to 19,694.00 points.
Foreign institutional investors (FIIs) were net sellers in the capital markets on Friday as they sold shares worth ₹477.76 crore, according to exchange data.
Meanwhile, India's forex kitty decreased by $462 million to $590.321 billion for the week ended November 10, the Reserve Bank said on Friday.
In the previous week, the overall reserves had increased by $4.672 billion to $590.783 billion.
