The rupee on Friday depreciated by another 23 paise to 46.27 against the US dollar in early trade, extending its slide for the fourth straight day, in line with other weakening Asian currencies.
At the Interbank Foreign Exchange (Forex) market, the Indian rupee fell by 23 paise to trade lower at 46.27 a dollar. The rupee had declined by 11 paise to close at 46.04/05 in yesterday's trading.
Forex dealers said dollar's gains against other Asian units and continued capital outflows by the foreign funds from the equities that have been on a free fall for the last three days, mainly weighed on the rupee's sentiment.
Besides, the dollar buying by importers also put pressure on the rupee, they added.
The Bombay Stock Exchange index Sensex dipped below 17,000 points level by losing 351.77 points, or 2.06 per cent to 16,699.37 in the opening trade on Friday.