The Indian currency continued its downward march and plunged to 50.05 against the greenback in early trade today on heavy dollar demand from importers amid melting stock markets.

At the Interbank Foreign Exchange (Forex) market, the Indian currency, which closed at 49.95/96 on Friday, fell by 10 paise at 50.05 against the greenback.

The benchmark Sensex posted its second biggest single-day fall of nearly 1,100 points on relentless capital outflows on Friday, which also influenced the rupee movement.