Rupee gains 12 paise against US dollar

The rupee recovered by 12 paise to 64.49 against the US dollar in early trade on Monday on increased selling of the American currency by exporters and banks amid a higher opening in the domestic equity market.

Besides, the dollar's weakness against some currencies overseas, fresh selling of the American currency by exporters as well as banks supported the rupee, forex dealers said.

Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.

On Friday, the rupee had slipped by 5 paise to 64.61 a dollar due to demand uptick for the American currency and persistent capital outflows.

Meanwhile, the benchmark BSE Sensex rose 97.06 points, or 0.33%, at 29,462.36 in early trade on Monday.