The rupee depreciated 19 paise to 63.93 against the dollar in early trade on Wednesday at the Interbank Foreign Exchange due to rise in the greenback against other currencies overseas buoyed by a possible US Fed rate hike.

Dealers also attributed the rupee's fall to increased demand for the US currency from importers.

However, a higher opening in the domestic equity market capped the losses to some extent.

On Tuesday, the rupee surged 30 paise to close at a two-week high of 63.74 on selling of the greenback by banks and exporters owing to a lower dollar overseas.