The Indian rupee depreciated by 12 paise against the dollar in early trade on Wednesday on increased demand for the $ from refiners and importers.
At the Interbank Foreign Exchange (forex) market, the domestic currency lost 12 paise to quote at 47.86 over the previous session’s close of 47.74.
The local unit had ended the day cheaper by four paise yesterday.
Forex dealers said a mixed greenback against a basket of Asian currencies and anticipation that domestic markets may remain range-bound, weighed on the rupee sentiment.
Bouncing back from its early low of 14,621.97, the Bombay Stock Exchange 30-share barometer had ended the day at 14,957.91 yesterday, netting a rise of 82.39 points or 0.55 per cent from its previous close.
Meanwhile, Hong Kong’s Hang Seng is trading low by about 1 per cent in early trade.