The Indian rupee depreciated 36 paise against the $ in early trade today on anticipation of capital outflows as the stock markets may open down following weak Asian markets and month-end $ demand from importers and refiners.
At the Interbank Foreign Exchange (Forex) market, the domestic unit was quoted at 48.06 a $ in the early trade, a fall of 36 paise over the previous close.
Rupee had appreciated 22 paise to close at 48.06 per $ yesterday.
Dealers said expectations of a weak opening in the stock markets, in line with other Asia markets, besides month-end $ demand from importers and refiners weighed on the rupee.