The rupee tumbled to a seven-week low in early deals as Asian equity market were trading in the red on concerns that the global economic revival is still a long way off. Traders are worried that the development will hold back fund flows into local equities by overseas investors.
The Indian unit opened at 48.97 and slid to 49 per dollar in early trades, its lowest since mid-May. The rupee had settled at 48.88/89 per dollar on Wednesday.