Rupee crashes below 56-level; down 31 paise Vs dollar

Besides, the euro stayed bearish against other currencies in overseas markets after taking a hit from the European Central Bank's announcement of no immediate measures to fight the debt crisis, dealers said.

The rupee had lost 37 paise to close at a one-week low of 55.84 yesterday against the US currency following fresh dollar demand.

Meanwhile, the BSE benchmark Sensex fell by 115.95 points, or 0.67 per cent, to 17,108.41 in early trade.