Mumbai: The rupee depreciated by eight paise to 63.67 against the dollar in early trade Wednesday at the Interbank Foreign Exchange due to rise in greenback against other currencies overseas.
Dealers attributed the fall to the dollar's gains against other currencies overseas and increased demand from importers for the US currency.
However, a higher opening in domestic equity market, capped losses to some extent.
Yesterday, the rupee slipped by 7 paise to close at 63.59 on fresh demand for the American currency from banks and importers on the back of a firm dollar overseas.
Meanwhile, the benchmark BSE Sensex was trading 72.48 points or 0.26 percent higher at 27,876.85 in early trade today.
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