For the low bit rate (LBR) video communications, LBR transcoding is performed by the transcoder to match the network bandwidth and the performance of the client. One of typical transcoding schemes is a reduced temporal resolution reduction transcoding that enables adapting the bit rate requirements of a network by using frameskipping method. In this paper, in order to provide better visual quality for frameskipping transcoding while reducing computational complexity, we presents a new rate-distortion (R-D) optimized dynamic frameskipping (DFS) transcoder for LBR video transmission in the compressed domain. Experimental results show that the proposed transcoder performs better than the conventional frame-skipping method.