Rupee down by 7 p

Mumbai: The rupee depreciated by 7 paise to Rs 44.84 against the US dollar in early trade on the Interbank Foreign Exchange on Thursday, tracking dollar gains against the euro and other currencies overseas and a lower opening in the equity market.

Forex dealers said dollar strength against the euro and Asian currencies overseas and a weak start in the stock market mainly put pressure on the rupee.

The rupee ended 4 paise lower at Rs 44.77/78 against the US currency in Wednesday`s trade on fresh demand from banks and importers.

Meanwhile, the Bombay Stock Exchange benchmark Sensex fell by 126.42 points, or 0.69 per cent, to 18,005.82 in opening trade on Thursday.