Rupee snapped its four-session gaining streak in the early trade today and depreciated by 4 paise to Rs 44.74 a dollar, as the US currency strengthened against major currencies.

The dollar's gains against other major currencies weighed down the rupee, but higher opening at the stock markets capped the losses, dealers said.

The rupee had ended 26 paise higher at Rs 44.70/71 a dollar in the previous trade, on selling of dollars by banks and exporters.