The Indian rupee fell past 47.04 per dollar to its weakest since June 2003 on Monday as month-end dollar demand from importers and oil refiners weighed and sharp losses in the share market raised worries about capital outflows.
At 2:37 pm, the partially convertible rupee was at 47.10/11 per dollar, its weakest since June 2, 2003, and more than 1 per cent weaker than its close of 46.545/555 per dollar on Friday, Reuters data showed.
India's main share index was down more than 5 per cent, hitting its lowest in 1- years.
Oil firms, the largest buyers of dollars in the domestic market, usually make payments for their imports at the end of each month. Oil was trading around $104 per barrel.