Tracking the steep fall in stock markets, the rupee lost a hefty 47 paise to end the day sub-50 level after six days at 50.38/39 against the dollar.
The domestic currency moved in the range of 50.08 and 50.48 per dollar during the day after opening distinctly weak at 50.10/11.
The rupee finally ended the day at 50.38/39, lower by 47 paise from last close of 49.91/92.
Strong demand for dollar from some banks and importers in view of its higher value in the international market mainly impacted the rupee sentiment, a forex dealer said. The rupee premium for the forward dollar ended slightly lower on sustained receivings by exporters.
Call rates up as liquidity tightens
The overnight call money rates inched up on high demand for funds on the last day of making advance tax payments. According to Clearing Corporation of India, the overnight call money rate touched a high of 9.05 per cent during the day.