Rupee depreciated by 16 paise to trade at Rs 45.56 against the US dollar in the early trade today. Dollar demand from importers and bearish sentiment at stock markets also weighed on the rupee. Forex traders said weakness in other currencies against the dollar and a lower opening on domestic bourses mainly put pressure on the Indian Rupee. The Rupee had ended 11 paise lower at Rs 45.40 against the dollar in the previous session