The Indian rupee weakened by 11 paise to a touch one-month low of 47.01 against the U.S. dollar in early trade on Wednesday on account of foreign fund capital outflows from equities and increased demand from importers.
Continuing its losing streak for the fifth straight day, the rupee lost ground against the American currency to touch its weakest level since June 10.
The rupee had closed lower by 13 paise at 46.90/91 against the U.S. dollar in the previous session, despite a strong rally in the stock markets.
Forex dealers said fresh foreign capital outflows from equities and good demand from importers and banks for the U.S. currency mainly weighed on the rupee sentiment.
Meanwhile, the Bombay Stock Exchange benchmark index Sensex fell 55.84 points, or 0.32 per cent, to 17,558.64 points in opening trade today.