The rupee on Monday lost 27 paise to trade at a two-week low against the dollar. This follows largely foreign fund capital outflows from equities and increased demand for dollar from importers. At the Interbank Foreign Exchange or Forex market, the domestic unit was trading 27 paise lower at 47.04 a dollar. The rupee had closed lower by 17 paise at 46.78 against in the previous session.