Forex dealers said besides dollar's gains against euro, which dropped to a two-year low, and other currencies in overseas markets, a lower opening in the equity market also put pressure on the local unit.
The rupee had lost 24 paise to close at 55.63 against the American currency in yesterday's trade on emergence of dollar buying at fag-end of trade by importers and banks.
Meanwhile, the BSE benchmark Sensex tanked 244.96 points, or 1.40 per cent, at 17,244.18 in early trade.
