Mumbai: The rupee depreciated 7 paise to 81.95 against the US dollar in early trade on Wednesday, tracking elevated level of the American currency against major rivals overseas as well as higher crude price.
Crude oil prices hovering above USD 83 per barrel and cautious move by investors ahead of the US Federal Reserve's interest rate decision later in the day weighed on the domestic unit, even as robust sentiment in the domestic market capped the fall, forex traders said.
At the interbank foreign exchange, the domestic unit opened at 81.89. It touched the peak of 81.87 and hit the lowest level of 81.96 before trading at 81.95 against the greenback, registering a fall of 7 paise from its previous close.
