A transmitter includes: a pulse amplitude modulation encoder that encodes serial data to multi-bit transmission data of a first data group and a second data group; a first driver that converts first multi-bit transmission data of the first data group to a first differential signal having a first voltage swing width; a second driver that converts second multi-bit transmission data of the second data group to a second differential signal having a second voltage swing width narrower than the first voltage swing width; a first voltage regulator that provides to the second driver a first low swing voltage for generating the second differential signal; a second voltage regulator that provides to the second driver a second low swing voltage less than the first low swing voltage; and a constant current load switch that provides a current path between the first and second voltage regulators depending on deactivation of the second driver.