The rupee fell by 16 paise in the Friday morning trade against the US dollar. At the Forex market, the rupee fell by 16 paise to 46.44 a dollar, extending its previous day's losses. The local unit had ended lower by 18paise at 46.28 in yesterday's trading.Dealers said weakness in Asian currencies and capital outflows by foreign funds from the domestic equities mainly put pressure on the rupee.