The rupee today depreciated by 16 paise to 45.50 a dollar in early trade as the US currency strengthened against major world currencies.

At the Interbank Foreign Exchange (Forex) market, the Indian rupee fell by 16 paise to 45.50 a dollar. The rupee had rallied by 42 paise to close at a 16-month high of 45.34 yesterday on heavy selling of US currency by exporters.

Dealers said dollar's gains against other Asian currencies, mainly weighed on the Indian rupee's sentiment.

Meanwhile, the Bombay Stock Exchange index Sensex rose by over 67 points, or 0.38 per cent, to 17,594.04 points in opening trade today.