The rupee rose 14 paise to 64.88 against the US dollar in early trade at the forex market today on increased selling of the greenback by exporters and banks.
Also, a higher opening of domestic equities supported the rupee, but the dollar's recovery against some currencies overseas, restricted the local unit's upmove, forex dealers said.
Yesterday, the rupee had retreated from its one-month high to close 5 paise lower at 65.02 against the US currency on fresh bouts of dollar demand from importers and corporate investors amid forex outflows.
Meanwhile, benchmark BSE Sensex rose 130.31 points, or 0.38 per cent, to 33,918.85 in early trade today.
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