The Indian rupee slumped to its lowest since April 2003 early on Monday, October 6 on expectations of more capital outflows with weaker Asian stocks, but dollar sales by state-run banks probably on behalf of the Reserve Bank of India (RBI) restricted rupee from a further drop.
The partially convertible rupee stood at Rs 47.30/32 a dollar in the early hours of trading, weaker than Friday`s close of Rs 47.0750/0850. In early trade, it hit a low of Rs 47.45, its lowest since April 2003.
