The Indian rupee continued to weaken Thursday and fell to a record low of Rs.46.71 to a US dollar on increased dollar buying by foreign institutional investors (FIIs), analysts said. 'FIIS are selling heavily in the share markets and since they get their money in rupees they are buying dollars for forward remittance to their respective countries,' said Jagannadham Thunuguntla, head of capital markets of India's fourth largest securities brokerage house, the Delhi-based SMC Group.