Mumbai: The rupee depreciated by 21 paise to 61.29 against the US currency in early trade on Wednesday at the Interbank Foreign Exchange market due to dollar's gains against other currencies overseas.

Forex dealers said besides dollar's gains against other currencies, fresh demand for the American unit from importers and a weak opening in the domestic equity market put pressure on the rupee.

On Tuesday, the domestic currency had gained nine paise to close at one-week high of 61.08 against the greenback on fresh dollar selling by banks and exporters.

Meanwhile, the benchmark BSE Sensex fell by 30.26 points, or 0.11 percent, to 25,850.51 in early trade today.--PTI