The Indian rupee plunged by 49 paise to a five-year low of 47.11 against the US dollar in opening trade today following increased demand for the greenback from importers.
At the Interbank Foreign Exchange market (Forex), the domestic currency, which touched a five-year low of 47.25 on Wednesday but closed the day stronger by 34 paise at 46.62/63, depreciated by 49 paise to 47.11 against the greenback.
The currency market was closed yesterday on account of Gandhi Jayanti and Id-ur-Fitr.