MUMBAI: The rupee tumbled by 68 paise to 71.60 against the US currency in early trade on Monday.
Brent crude futures, the global oil benchmark, jumped 9.86 per cent to USD 66.16 per barrel on Monday.
At the interbank foreign exchange, the rupee opened at 71.54 then fell to 71.60 against the US dollar, showing a decline of 68 paise over its previous closing.
On Friday, the Indian rupee had closed at 70.92 against the US dollar.
The 30-share index was trading 204.37 points or 0.55 per cent lower at 37,180.62 and the broader Nifty fell 64.10 points or 0.58 per cent to 11,011.80.
As per the provisional data, Foreign institutional investors (FIIs) remained net sellers in the capital market, pulling out Rs 405.45 crore on Friday.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.09 per cent to 98.17.
The 10-year government bond yield was at 6.64 per cent in morning trade.
With inputs from PTI