Mumbai: The rupee depreciated by 7 paise to 64.57 against the US dollar in early trade on Tuesday at the interbank foreign exchange on month-end demand for the American unit from importers and banks.


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However, weakness in the US dollar against some currencies in the global market limited the rupee fall, brokers said.


Yesterday, the rupee had gained 20 paise to end at a fresh two-month high of 64.50 against the dollar even as S&P kept India's credit rating unchanged.


Meanwhile, the benchmark BSE Sensex was trading lower by 85.12 points, or 0.25 percent, at 33,639.32 in opening deals.