The Indian rupee has erased some of its morning losses but still trading lower at 71.42/dollar, with flat trading seen in the domestic-equity-market. It opened lower by 7-paise at 71.43/dollar against Friday's close of 71.36. On Friday, the Indian-rupee ended lower at 71.36 against the US dollar tracking heavy selling in domestic-equities and strengthening of the American currency in the overseas market.