The rupee plummeted 30 paise to end at a fresh one-week low of 64.21 against the US dollar on Friday , hit by a double whammy of rising global crude prices and worsening trade deficit.
This is its biggest fall since February 1 , when it had lost 44 paise.
On the global front , the dollar staged mild recovery from sharp losses posted against other major currencies , but gains were expected to remain limited and the greenback was still trading within close distance of a three-year trough.
The dollar index , which measures the greenback’s value against a basket of six major currencies , was down at 90.41 in early trade.
Elsewhere , the common currency euro took a breather after a spectacular four-day rally against the US dollar supported by both German politics and ECB’s resistance to intervene.
Overall , sentiment was weak after the country’s trade deficit widened to an over three-year high on higher oil and gold imports.
The trade gap soared to $16.3 billion in January on account of a 26.1 per cent increase in imports to $ 40.68 billion due to increased inbound shipments of crude oil , as per data released by the commerce ministry.