Rupee up 9 paise against dollar in opening trade

A private money trader counts Indian Rupee currency notes at a shop in Mumbai, in this August 1, 2013 file photo. With only enough cash in the central bank to pay for seven months of imports, $172 billion of debt due in the current fiscal year and weak fund inflows, India's balance of payments position is undermining its ability to defend a tumbling rupee. To match INDIA-ECONOMY/PAYMENTS REUTERS/Vivek Prakash/Files (INDIA - Tags: BUSINESS)

The rupee edged higher by 9 paise to 64.80 against the dollar in early trade today at the Interbank Foreign Exchange on fresh selling of the US currency by banks and exporters.

Forex dealers said a higher opening in domestic equity market also supported the rupee but the dollar’s strength against some currencies overseas, capped the rupee’s gain.

The rupee had slumped by a whopping 34 paise to end at a fresh seven-week low of 64.89 against the American currency in yesterday’s trade on the back of frantic dollar demand.

Meanwhile, the benchmark BSE Sensex recovered 120.54 points or 0.40 per cent to 30,485.79 in early trade.