Decline in stock markets weighed against the Indian rupee which lost 11 paise to close within the vicinity of 50-mark at 49.72/74 today.
In tune with the fall in stock markets, the rupee which opened weak lost further ground fell short of the crucial 50-mark by just one paise only.
In three sessions of fall since Monday, during which the rupee fell below the 50-mark on Wednesday's intra-day, the local unit has lost whopping 125 paise or 2.57 per cent. It recovered by 31 paise yesterday.
Foreign exchange dealers said a fall in equity markets mainly weighed against the rupee. The Indian benchmark Sensex today ended lower by nearly 200 points or 2.21 per cent at 8,843.21. Other Asian indices, excluding China, also finished the day in negative terrain.
Foreign Institutional Investors (FIIs) continued their selling spree and they sold shares worth $377.70 million in the week till February 19, while pulling out a whopping nearly $1.35 billion in the current calender year so far, impacting negatively on the rupee.
Dealers said dollar gaining in the overseas markets also put pressure on the domestic currency.
