The Indian Rupee depreciated by 15 paise to 44.53 rupees against the US dollar in early trade, weighed down by a weak trend in the stock market and dollar's gain against other Asian currencies. It had tumbled by 31 paise to close at 44.39 rupees per dollar in the previous session on Monday, following fresh dollar demand from importers amid sluggish equities. The forex market remained closed yesterday on account of Ramnavmi.