Mumbai: The rupee depreciated by four paise to 60.85 against the US dollar in early trade on Monday at the Interbank Foreign Exchange due to increased demand for the American currency from importers amid a weak opening in the domestic equity market.
Forex dealers said besides the dollar's gains against other currencies overseas, fresh demand from importers for the American unit put pressure on the rupee.
The rupee appreciated by three paise to close at one-week high of 60.81 against the US dollar in the previous session on sustained dollar selling by exporters and capital inflows.
Meanwhile, the BSE benchmark Sensex fell by 166.32, or 0.61 per cent, to 26,924.10 in early trade today.
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