Rupee down by 15 paise versus dollar in morning trade

The Indian rupee dropped by 15 paise to 45.15 against the US dollar in early trade today on renewed dollar demand from banks and importers despite weakness of the American currency in overseas markets.

The Indian rupee resumed lower at 45.05/06 per dollar as against yesterday's close of 45.00/01 per dollar and dropped further to 45.15 per dollar before quoting at 45.09/10 per dollar at 1030 hours.

It moved in a range between 45.00 and 45.15 per dollar in morning deals.

Renewed demand for dollars from banks and importers in view of rising crude prices mainly affected the rupee value against the dollar, a forex dealer said.

Crude prices rose in Asian trade today on continued investor concerns over the unrest in Libya spreading to other parts of the oil-rich Middle East. New York's main contract, light sweet crude for April delivery, gained 44 cents to $104.82 per barrel.

In New York, the dollar fell against the euro and other currencies after Portugal was able to sell two-year bonds, albeit at a hefty price.