The rupee was headed towards the 50-mark today as it fell by 37 paise to 49.71/72 against the $ in sync with bearish equity markets due to sustained capital outflows.
Traders, however, anticipated intervention by the central bank at the important 50-level.
In lacklustre activity at the Interbank Foreign Exchange (forex) market, the domestic currency resumed weak at 49.55/56 a $ from its overnight close of 49.34/35 a $ and later fell further to 49.71/72 a $ in morning deals.
Forex dealers said the rupee remained under pressure due largely to capital outflows from equity markets which had adverse impact of global financial crisis.
Meanwhile, Finance Minister P Chidambaram said the direction of capital flows may reverse in a month or two.