MUMBAI: The Indian rupee extended its drop to fresh one-week lows on Tuesday afternoon tracking losses in the domestic sharemarket and weighed by the euro's fall overseas. * At 12:48 p.m., the partially convertible rupee was at 46.845/855 per dollar, after hitting 46.85, its weakest since Aug. 16 and below 46.65/66 at close on Monday. * The euro hit a nine-year low against the yen on Tuesday as the loss of key technical support led speculators to short the currency in the hope of forcing stop-loss sales against both the yen and the dollar. * The index of the dollar against six majors was 0.4 percent higher and most Asian units were weaker compared to the U.S. unit. * Indian shares were trading 0.5 percent lower on weak world markets, with investors nervous about the health of the global economy. * One-month offshore non-deliverable forward contracts at 47.09, weaker compared to the onshore spot rate. * In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and MCX-SX were both at 46.8625, with the total traded volume on the two exchanges at about $1.7 billion.

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