The rupee fell by 21 paise to 62.43 against the US dollar in early trade today at the Interbank Foreign Exchange market due to increased demand for the US currency from oil importers. Forex dealers said, a weak opening of the domestic equity market also weighed on the rupee but dollar's weakness against other currencies overseas limited the losses. The rupee had gained 10 paise at 62.16 against the dollar on Friday.