The rupee weakened by 15 paise to close at 73.83 (provisional) against the US dollar on Monday as a stronger greenback against key rivals and rising crude oil prices weighed on investor sentiment. Besides, multiple bouts of volatility on domestic equities front and mixed cues from global financial markets brought the rupee more under pressure, analysts observed.

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At the interbank foreign exchange market, the rupee opened on a weak note at 73.70 and slid to the day's lowest level at 73.84 a dollar towards the fag-end of the session. For a brief period, it ventured into positive territory and touched a high of 73.60.

The domestic unit finally settled the day at 73.83 a dollar, showing a drop of 15 paise over its previous close. On Friday, the currency had closed 4 paise down at 73.68 against the US dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.11 percent to 93.42.

On the domestic equity market front, the BSE Sensex ended marginally higher by 29.41 points or 0.05 percent higher at 60,077.88. Similarly, the NSE Nifty closed the day 1.90 points or 0.01 percent higher at 17,855.10.

Meanwhile, global crude oil benchmark Brent futures advanced 1.29 percent to USD 78.23 per barrel. Foreign institutional investors were net buyers in the capital market on Friday as they purchased shares worth Rs 442.49 crore, as per exchange data.