Rupee falls by 48 paise against US dollar in early trade

New Delhi, Sep 16 (PTI) The Indian rupee continued its
downward march and fell by another 48 paise to 46.53 against
the US dollar in early trade today owing to melting Asian
stock markets amid heavy demand for the greenback.

At the Interbank Foreign Exchange (forex) market, the
Indian currency had breached the psychologically 46-level
against the greenback to 46.05/06 Monday, for the first
time in two years.

The turnmoil in global financial market following the
bankruptcy of Lehman Brothers and takeover of Merrill Lynch by
Bank of America also affected the rupee movement.