The Indian rupee weakened against the U.S. dollar in afternoon deals on Monday, as regional shares fell on concerns about turmoil in the U.S. banking sector and an impending recession.

The benchmark S&P BSE Sensex was down 794 points, or 1.37 percent, at 57,194, while the broader NSE Nifty index was down 250 points, or 1.47 percent, at 16,849.

The Indian rupee dropped to a 4-day low of 82.69 against the greenback from Friday's close of 82.50. The rupee may locate support around the 83.00 level.

US Dollar vs INR (FX:USDINR)
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