Mumbai, India (BBN)– The Indian rupee recovered by 12 paisa to 64.49 against the US dollar in early trade on Monday on increased selling of the US currency by exporters and banks amid a higher opening in the domestic equity market.

Besides, the dollar’s weakness against some currencies overseas, fresh selling of the American currency by exporters as well as banks supported the Indian currency, according to forex dealers.

They also said a higher opening in the domestic equity market influenced the rupee uptrend further.

Earlier on Friday, the rupee had slipped by 5.0 paisa to 64.61 a dollar due to demand uptick for the American currency and persistent capital outflows, according to reports.

Meanwhile, the benchmark BSE Sensex rose 97.06 points, or 0.33 per cent, at 29,462.36 in early trade on the same day.