The rupee on Wednesday depreciated by 3 paise to 45.12 a dollar in early trade due to demand for the US currency from importers.
Dealers said that firm domestic stock markets, however, prevented any major fall in the rupee.
Demand for the US currency weighed on the rupee sentiment, they said, adding that a strong dollar overseas also put pressure on the domestic currency.
The rupee ended 14 lower at 45.09/10 a dollar in the previous session.
The Bombay Stock Exchange index Sensex rose by almost 110 points, or 0.62 per cent, to 17,699.50 points in opening trade.
