Rupee falls 29 paise against US dollar in early trade

The rupee depreciated 29 paise to 45.35 per US dollar in early trade on the Interbank Foreign Exchange on Tuesday, weighed down by dollar gains against other Asian currencies and a weak start in the stock market.

Forex traders said dollar gains against most other Asian currencies and sharp losses in opening trade in the stock market mainly put pressure on the rupee.

The Indian currency rose 18 paise to close at 45.06/07 against the US currency in Monday's session, supported by the recovery in stocks amid dollar-selling by exporters.

Meanwhile, the Bombay Stock Exchange benchmark Sensex fell sharply by 486.88 points, or 2.64 per cent, to 17,952.60 in opening trade on Tuesday.