Mumbai: The rupee recovered 13 paise to 64.53 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange market on fresh selling of the American currency by banks and exporters.
Forex dealers said a higher opening in the domestic equity market, which soared to a new high, and a weakening dollar against some other currencies overseas supported the rupee.
On Tuesday, the rupee had lost 16 paise to end at 64.66 against the US dollar due to sustained demand for the greenback from banks and importers.
Meanwhile, the benchmark BSE Sensex rose 74.28 points, or 0.23 per cent, to hit yet another new high of 31,233.68 in early trade on Wednesday.