Mumbai: The rupee on Thursday spurted 12 paise to 64.80 against the US currency after a rush of dollar supply.
This was mostly because banks and exporters increasingly unwound their dollar bets.
The US unit came in weak against some currencies overseas. Domestic stock markets opening firm also supported the rupee, forex market participants said.
On Wednesday, the rupee had ended marginally lower by 3 paise at 64.92 against the US currency due to fresh spells of dollar demand from corporates amid global crude oil woes.
The benchmark BSE Sensex rose by 45.15 points, or 0.13 per cent, to 33,606.70 in opening session on Thursday.