The rupee depreciated 13 paise to 65.27 against the dollar today as expectations rose that US President Donald Trump's tax cut plan will be signed into law.
The US currency put on more lustre on increased demand from banks and importers.
The renewed strength of the dollar overseas weighed on the rupee, forex dealers said.
Yesterday, the local currency had closed lower by 13 paise at 65.14, driven by fresh spell of dollar demand from importers.
Meanwhile, the benchmark Sensex went up 130.10 points, or 0.41 per cent, to 31,722.13 in early trade today.
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