The Indian rupee today depreciated by 15 paise to 48.35 against the $ in early trade due to importers' demand for the US currency.
Expectations of more capital inflows by foreign funds as stock markets may extend upward march, also checked fall in Indian rupee to some extent.
At the Interbank Foreign Exchange (forex) market, the domestic currency was quoted at 48.35 a $, a fall of 15 paise over the previous close. The rupee had gained 52 paise (1.1%) to close at two-week high of 48.20/21 against the US currency yesterday.
Forex dealers said increased demand from importers and refiners and firming US $ against some other Asian currencies mainly put pressure on the Indian rupee.
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