Rupee down by 16 paise against $ in early trade

Rupee depreciated by 16 paise to trade at Rs 45.56 against the US dollar in the early trade today at the Interbank Foreign Exchange, as the US currency firmed up against major currencies.

Dollar demand from importers and bearish sentiment at stock markets also weighed on the rupee.

Forex traders said weakness in other currencies against the dollar and a lower opening on domestic bourses mainly put pressure on the Indian Rupee.

Rupee had ended 11 paise lower at Rs 45.40/41 against the dollar in the previous session following good demand for the US currency.

Meanwhile, the BSE benchmark Sensex fell by 217.98 points to 19,739.61 in the opening trade today.