Mumbai: The rupee depreciated by 8 paise to 61.96 against the US currency in early trade on Wednesday at the Interbank Foreign Exchange due to dollar's gains against its rivals overseas.
Forex dealers said besides the dollar's gains against other currencies, fresh demand for the American unit from importers and a lower opening in the domestic equity market kept pressure on the rupee.
The Indian rupee had weakened by 5 paise to end at 61.88 against the American currency yesterday on sustained demand from importers amid a broader sell-off in equities.
Meanwhile, the benchmark BSE Sensex fell by 86.98 points, or 0.31 per cent, to 27,710.03 in early trade today.
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