Mumbai: The rupee recovered some lost ground to trade higher by 3 paise at 64.49 against the US currency in early trade today after exporters and banks stepped up dollar selling.
Forex dealers said weakness in the dollar against its key rivals overseas gave some support to the rupee.
Further, a higher opening in the domestic equity market also influenced the forex market trend, they added.
Yesterday, the rupee had lost 11 paise to close at 64.52 on fresh bouts of dollar demand from importers amid continued geo-political headwinds.
Meanwhile, the benchmark BSE Sensex rose 168.39 points, or 0.57 per cent, to 29,582.05 in early trade today.