Mumbai: The rupee depreciated by four paise to 60.47 against the US currency in opening trade on Wednesday at the Interbank Foreign Exchange market due to dollar's gains against other currencies overseas.
Forex dealers said besides dollar's gains against other currencies on positive economic data, month-end demand for the American unit from importers put pressure on the rupee, but a higher opening in the domestic equity market capped the losses.
Yesterday, the domestic currency had gained 13 paise to close at nearly four-week high of 60.43 against the American unit following fresh dollar selling by exporters and sustained investments by foreign funds.
Meanwhile, the benchmark BSE Sensex spurted by 142.51 points, or 0.54 percent, to 26,585.32 in early trade today.
