The rupee slipped by 6 paise to 64.74 per dollar, paring its early gains, in late morning deals on bouts of fresh demand for dollars from importers and banks amid lower domestic equities.
The rupee opened higher at 64.65 per dollar as against yesterday's closing level of 64.68 per dollar at the interbank forex market.
The Indian unit gained further to 64.6050 per dollar before losing its grip by dropping to 64.77 during morning deals, it was quoting at 64.74 at 1025 hrs.
At overseas, the US dollar faltered against its major rivals in early Asian trade, knocked away from an eight-month highs versus the yen down as Treasury yields slipped on uncertainty over whether the Republicans can pass their tax bill in a timely manner.
The BSE Sensex trading lower by 80.38 points, or 0.24 per cent, at 33,650.81 at 1030 hrs.
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