Mumbai: The rupee depreciated by 17 paise to 60.46 against the US dollar in early trade Tuesday at the Interbank Foreign Exchange market due to increased demand for the US currency from importers amid a weak opening in the domestic equity market.
Forex dealers said besides dollar's gains against other currencies overseas, fresh demand from importers for the American unit put pressure on the rupee.
The rupee appreciated by 10 paise to close at a nearly six-week high of 60.29 against the US dollar in the previous session tracking a solid rally in local shares and continued dollar selling by exporters and some banks.
Meanwhile, the BSE benchmark Sensex retreated from record highs by falling 45.92, or 0.17 percent, to 27,273.93 in early trade today.
