Dealers said early losses in domestic equity markets and increased foreign fund outflows weighed on the rupee.
The dollar, however, was trading weak against Asian currencies after its overnight losses against the euro and the pound which capped its losses.
The rupee moved in a range of 64.33 to 64.40 in early trade.
Foreign investors sold shares worth Rs 2,297 crore on net basis yesterday.
The benchmark BSE Sensex crashed 563.51 points, or 1.63 per cent, to 33,849.65, while Nifty tanked by 178.65 points, or 1.68 per cent, to 10,398.20 in opening trade.
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