The Indian rupee depreciated by 46 paise to 47.32 a dollar in early trade

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on capital outflows by foreign funds from equities and weakness in other Asian currencies against the dollar.

The rupee had closed lower by 18 paise to 46.86/87 a dollar in the previous trading session on Friday.

Forex dealers said fresh capital outflows by foreign funds from equities in tandem with melting global markets and weakness in other Asian currencies weighed on the rupee sentiment.

Meanwhile, the Bombay Stock Exchange benchmark index, Sensex, dipped below the 17,000 points by losing 430.96 points, or 2.52 per cent, to 16,686.73 points in opening trade today.