Sensex crashed more than 1,000 points in opening trade. Asian stocks plunged too on Friday.

The rupee too fell to more than six-year low of 49.07 against the US dollar at 0940 hrs owing to deepening global financial crisis amid weak Asian stock markets.

The level was last seen in May 2002.

At the Interbank Foreign Exchange market, the domestic unit, which fell to 48.80 and closed at 47.99/48.00 on Wednesday, today lost further ground by falling by Rs 1.08 at 49.07 against the greenback.

The local unit was trading at 49.02 a dollar in early trade before trading at 49.07.

Meanwhile, exporters and economists had said that the Indian currency may fall to 50 a dollar in the next two months in the wake of global financial crisis.