The rupee today depreciated by 22 paise against the US currency in early trade in line with weak stock markets.
At the Interbank Foreign Exchange (Forex) market, the rupee fell by 22 paise to 46.38 a dollar. The rupee had closed higher by 19 paise at 46.16/17 a dollar in the previous session.
Dealers said dollar's gains against other Asian currencies and buying of US currency by banks, mainly weighed on the Indian rupee's sentiment.
The Bombay Stock Exchange index Sensex opened lower by 175 points, or 1.06 per cent, in early trade today.
