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Mumbai: The rupee depreciated 37 paise to 81.63 against the US dollar in early trade on Thursday, tracking the strength of the American currency in the overseas market and a muted trend in domestic equities.

Forex traders said the American currency strengthened after strong US retail sales data pointed to resilient



consumption despite a slowing economy, adding room for tighter policy by the US Federal Reserve.

At the interbank foreign exchange, the domestic unit opened at 81.62 against the dollar, then lost ground to quote at 81.63, registering a loss of 37 paise over its previous close.



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