The rupee moved in tandem with local stocks and lost 55 paise to end at 48.83/84 against the US currency on Monday on hectic dollar coverings by corporates as well as demand from oil refiners.

Dealers at the Interbank Foreign Exchange (forex) market said the domestic unit failed to sustain its Friday's recovery as equity markets fell sharply, raising fresh fears of capital outflows after Satyam Computer's shocking accounting scam.