The rupee on Wednesday depreciated by 13 paise to 61.65 a dollar in early trade on the Interbank Foreign Exchange market as the US currency strengthened overseas.
Forex dealers said besides dollar’s gains against other currencies overseas on the back of strong retail data, demand for the American currency from importers put pressure on the rupee but a higher opening the domestic equity market capped the losses.
The rupee had gained 38 paise to close at one-month high of 61.52 against the dollar on Monday. The forex market remained closed on Tuesday on account of ‘Id-E-Milad’
Meanwhile, the benchmark BSE Sensex rose by 122.79 points, or 0.58 per cent, to 21,155.67.