The rupee fell by 15 paise to 54.92 against the dollar in early trade on Tuesday at the Interbank Foreign Exchange on increased demand for the American currency from oil importers and some banks.

Besides, euro's weakness against the US dollar overseas, a lower opening in the domestic equity market also put pressure on the rupee, forex dealers said.

Meanwhile, the BSE benchmark Sensex fell by 31.29 points, or 0.16%, to 19,274.03.

The rupee had lost 51 paise to end at 54.77 against the dollar in the previous session on strong demand for the American currency.