The rupee plunged by 83 paise to 64.13 against the dollar at 2.50 p.m. local time on heavy dollar demand from banks and importers due to rise in crude oil prices.
The domestic unit shed 35 paise to 63.65 per dollar in the opening trade against the previous close of 63.30.
Oil prices rose in Asian trade as the slump in US housing data eased speculation that the Federal Reserve may start scaling back its stimulus programme next month.
According to dealers, the capital control measures taken by RBI have heightened the fears of uncertainty in the forex market. However, market players expect additional measures from the central bank to stabilise the currency.
