MUMBAI: The rupee depreciated by 9 paise to 61.51 in early trade today at the Interbank Foreign Exchange market on fresh demand for the American currency from importers.
Dealers said fresh demand for the American currency from importers mainly put pressure on the rupee but a higher opening in the domestic equity market and the dollar's weakness against other currencies overseas, capped the losses.
The rupee had ended higher by 28 paise at 61.42 against the US currency in Friday's trade on fresh selling of dollars by banks and exporters on persistent foreign capital inflows into equity market.
Forex market remained closed yesterday on account of "Republic Day".
Meanwhile, the benchmark BSE Sensex rose by another 177.79 points, or 0.60 per cent, to hit a new high of 29,456.63 (intra-day) in early trade, surpassing its previous
high of 29,408.73 touched on Friday.