The rupee hit an all time low of 69.52 against the dollar, amid ongoing financial crisis in Turkey which spooked investors.
Benchmark indices also opened the day lower, as global markets were hit by a sharp drop in the Turkish lira, and rising economic chaos in Turkey. The Indian rupee and the Indonesian rupiah were the worst performers in trade today.
The Chinese rembini, Taiwanese Dollar and the Philippine Peso also dropped in trade. Check rupee rates agaist world currencies
Late last week, US President hinted at more tariffs on metals imported from Turkey, which sent the Turkish Lira to record lows. The Turkish President, urged his countrymen to sell gold and dollars, to support the currency. This saw a huge sell-off in global markets on Friday and Asian markets in early morning trade
The Sensex opened the day lower, while dropping almost 285 points in early trade, while the Nifty dropped 84 points.
Shares in Union Bank, bucked the trend and was up 1 per cent, following a good set of quarterly numbers from the bank. Kotak has maintained an "add" on the stock of Union Bank, following its quarterly numbers.
Coal India saw its shares gain momentum, after a good set of results. BOAML has maintained a buy on the stock. Shares in HDFC Bank lost almost 2 per cent, after Paresh Suthankar, who was seen as a replacement for Aditya Puri, as MD at HDFC Bank, after the latter's tenure resigned.
Meanwhile, Asian markets have fallen sharply, following worries in Turkey. The Korean Kospi, the Shanghai Composite and the Japanese Nikkei are all lower in trade.