The rupee pared initial losses to trade at Rs 64.41 per dollar, up by 9 paise, in late morning deals on bouts of dollar selling from banks and exporters amid a subdued dollar overseas.
The rupee opened lower at 64.53 against previous closing level of 64.50 per dollar at the interbank forex market. It slid further to 64.60 in early trade amid losses in stock markets.
The domestic currency reversed the trend in late morning trade and hit a high of 64.35 before trading at 64.41, up by 9 paise, at 1100 hrs.
The domestic unit hovered between 64.60 and 64.35 during morning trade.
A languishing dollar overseas helped the rupee sentiment, a dealer said.
Globally, the US dollar was lower against major rivals in early Asian trade, with the near-term focus on a possible Senate vote on a US tax plan later in the week.
The BSE Sensex was trading flat, down marginally by 17.19 points, or 0.05 per cent, at 33,707.25 at 1035 hours.
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