The rupee today fell by 10 paise to trade at 54.58 against the US dollar in early trade, extending its slide for the fourth day, at the Interbank Foreign Exchange as the American currency firmed against euro and other currencies in the overseas market.

Dealers said besides strengthening of dollar against the major currencies including yen, which plunged to a year-and-a-half low overseas, a lower opening the domestic equity market mainly put pressure on the local unit.