The Indian rupee depreciated 36 paise against the dollar in early trade today on anticipation of capital outflows as the stock markets may open down following weak Asian markets and month-end dollar demand from importers and refiners.

At the Interbank Foreign Exchange (Forex) market, the domestic unit was quoted at 48.06 a dollar in the early trade, a fall of 36 paise over the previous close. Rupee had appreciated 22 paise to close at 48.06 per dollar yesterday.