The Indian rupee was down by 13 paise at 44.82 per US dollar in early trade today on renewed dollar demand from banks and importers on the back of a firm dollar in overseas market.
At the Interbank Foreign Exchange, the rupee opened lower at 44.75/76 per dollar as against the previous closing level of 44.69/70 per dollar and dropped further to 44.82 per dollar before quoting at 44.80/81 per dollar at 1030 hours.
It hovered in a range between 44.75 and 44.82 per dollar in morning deals.
Fresh dollar demand from banks and importers in view of the firm dollar in overseas markets mainly affected the rupee value against the dollar, a forex dealer said.
The euro extended its losses against the US dollar in the New York market yesterday as widespread strikes in Greece and more worries about Portuguese banks reduced confidence in Europe's ability to devise a solution to its sovereign debt problems.
Meanwhile, oil prices rebounded in Asian trade today after plunging overnight on faltering demand in the United States and China, analysts said. New York's main contract, light sweet crude for delivery in June, rose 99 cents to $99.20 a barrel in morning trade.
