The rupee today depreciated by two paise against the US currency in early trade following weak stock markets and mild dollar demand from importers.
At the Interbank Foreign Exchange (Forex) market, the domestic unit traded lower by 2 paise at 46.37 a dollar.
Dealers said that weakness in equity markets and some dollar demand by importers weighed on the rupee sentiment.
The US currency firmed up against other major global currencies which also influenced the trading sentiment.
Meanwhile, the Bombay Stock Exchange index Sensex was down by 182.03 points at 16,124.84 points in early trade today.
