The rupee rebounded by 7 paise to 64.08 against the US currency in late morning deals following sustained bouts of dollar selling by banks and exporters.

Earlier, the rupee resumed lower at Rs 64.15 per dollar against Tuesday’s closing level of 64.15 at the Interbank Foreign Exchange (Forex) market today.

It hovered in a range of 64.17 and 64.08 before quoting at 64.12, up 3 paise at 12 noon local time.

Overseas, the US dollar eased against its major rivals in early Asian trade, while it edged lower versus the yen, hampered by renewed investor concerns over the Trump administration’s ability to push forward its economic policy agenda.

The dollar index against a basket of six major currencies were trading down 0.10 per cent at 93.57.

Meanwhile, the BSE index Sensex was trading down by 276.32 points or 0.87 per cent at 31,519.14.