The Indian rupee fell sharply by 24 paise to Rs 45.22 against the US dollar in early trade on Wednesday, extending Tuesday's weakness at the Interbank Foreign Exchange, weighed down by the dollar's gains against currencies.
Forex dealers said besides the American currency's gains against other Asian currencies, weak opening on the stock market also kept pressure on the Indian rupee.
The rupee had tumbled 28 paise against the US dollar to close at Rs 44.98/99 following weak equities and good dollar demand in the previous session.
Meanwhile, the Bombay Stock Exchange benchmark Sensex fell 50.55 points, or 0.24 per cent, to 20,448.17 in the opening trade.
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