Rupee now ranks among the worst performing EM currencies this financial year.
The yen fell almost 0.2 per cent to 108.00 per dollar, its weakest since August 1.
This week, market participants will be keeping an eye on inflation and IIP data.
The Indian rupee on Monday had closed at 71.71 against the US dollar.
Investor focus for now is centred on the European Central Bank's meeting on Thursday.
The currency has fallen close to 20% since the 2016 referendum and its fate is dependent on the outcome of Britain’s exit from the EU.
Rising crude oil prices and foreign fund outflows weighed on the domestic currency.
Forex traders said weak opening in domestic equities weighed on the rupee.
Among Asian currencies, the yuan got off to a subdued start after the soft trade data.
On a weekly basis, the domestic currency, however, lost 30 paise to the US dollar.
On Thursday, rupee had settled for the day with gains of 28 paise at 71.84 against the US dollar.
Surveys suggest the world's largest economy is in better shape than investors had feared.
The currency has appreciated by 55 paise in the past two sessions.
RBI rate cuts would have no impact on the rupee or be negative, said analysts.
Rupee had settled at 72.12 against the US dollar on Wednesday.
The Chinese onshore yuan rose as much as 0.3 per cent after news of the trade talks surfaced.
Against a basket of currencies, the dollar lifted a little from a one-week low to 98.492.
Forex traders said the Indian currency gained following weakness in the dollar.
At the interbank foreign exchange on Wednesday, the rupee opened at 72.20.
Against a basket of currencies the dollar traded slightly lower at 98.944.
Foreign investors offloaded a net amount of Rs 5,920 crore from the capital markets in August.
The Indian rupee and the Malaysian ringgit were the worst performers in the region.
The Indian rupee on Friday had closed at 71.42 against the US dollar.
The euro was flat at 90.91 pence, holding onto a 0.7 per cent gain on Monday.
The yen rose around 0.1 per cent versus to dollar to 106.15 in Asian trading.
The rupee revived as concerns over US-China trade friction receded.
"The Euro is dropping against the Dollar 'like crazy,' giving them a big export and manufacturing advantage...and the Fed does NOTHING!" Trump said in a Twitter post.
Gold reserves fell by $243.2 million to $26.867 billion, despite a massive rally in the prices.
All emerging Asian currencies except for the Thai baht are poised for monthly losses.
The rupee had slipped 3 paise to close at 71.80 against the US currency on Thursday.
The US currency was also supported by investors' month-end rebalancing needs.
Losses in domestic equity markets and unabated foreign fund outflows hit the rupee sentiment.
The rupee fell 29 paise to close at 71.77 against the US dollar on Wednesday.
Against the dollar, the yen was steady early in Asian trading at 106.06 yen.
Rising crude oil prices and weakness in the equity market put pressure on the domestic currency.
Tuesday’s dip pushed yuan to its weakest level against the dollar since early 2008.
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