The rupee recovered 5 paise to trade at 65.47 against the US dollar in morning session today.
Fresh selling of the American currency by exporters and banks amid higher opening in the domestic equity market bolstered the domestic currency, dealers said.
However, a strong dollar in global markets capped the rupee gains, they added.
The rupee had lost 8 paise to close at 65.52 against the US currency due to bouts of dollar demand from importers and banks.
Meanwhile, the benchmark BSE Sensex rose 72.54 points, or 0.24 per cent, to 29,404.70 points in early trade today.
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