MUMBAI: The rupee was up by 16 paise at 45.36 per US dollar in early trade today amid sustained dollar-selling by banks and corporates and greenback weakness overseas. At the Interbank Foreign Exchange, the domestic unit opened higher at 45.45/46 per dollar against Tuesday's close of 45.52/53 per dollar and moved up further to 45.36 per dollar before quoting at 45.41/42 per dollar at 1030 hours. The rupee moved in a range between 45.36 and 45.50 per dollar in morning deals. Sustained selling of dollars by banks and corporates due to dollar weakness in overseas markets mainly boosted the rupee sentiment, a forex dealer said. Meanwhile, oil surged past USD 104 in Asian in early trade today as inflamed geopolitical tensions in the Middle East drove crude supply concerns, analysts said. However, the Indian benchmark Sensex was trading lower by 17.90 points, or 0.10 per cent, in early trade today.

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