The Indian rupee depreciated by 48 paise to 45.69 a dollar in early trade on Monday on capital outflows by foreign funds from equities and the dollar’s gain overseas.

The rupee had closed lower by 13 paise at 45.21/22 a dollar in the previous session.

Forex dealers said continued capital outflows by foreign funds from equities and dollar’s strength overseas, mainly weighed on the rupee sentiment.

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