Mumbai : The rupee tumbled by 62 paise to close at almost 11-week low of 51 rupees 40 paise against dollar. This follows sustained demand for the US currency from importers and some banks amid weakness in local stocks.

At the Interbank Foreign Exchange or Forex market, the domestic unit opened sharply lower at 51 rupees 4 paise a dollar from previous close of 50 rupees 78 paise.

It soon touched a high of 50 rupees 98 paise. However, sluggish stocks amid heavy dollar demand from importers, mainly oil importers, to meet their month-end requirements later weighed on the rupee and it fell back sharply.