Rupee gains 12 paise to 64.34 in late morning deals
Mumbai, Dec 04 (PTI) The rupee pared its early sharp losses to recover by 12 paise to Rs 64.34 per dollar in late morning deals on dollar selling by banks and exporters amid higher local equities.
The domestic unit opened sharply lower at 64.53 per dollar as against the last closing level of 64.46 per dollar at the interbank forex market.
It slid further to 64.57 before rebounding to 64.34 per dollar at 1130 hrs.
"Higher domestic equities lifted the rupee sentiment," a dealer said.
Globally, the US dollar was broadly higher against its major rivals in early Asian trade, reaching a 2-1/2-week peak against the yen, lifted after the US Senate approved a tax overhaul at the weekend.
The BSE Sensex is trading sharply higher by 91.14 points, or 0.28 per cent, at 32,924.08 at 1045 hours. PTI PAK MR
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