The rupee recovered by 17 paise to 64.44 against the US dollar on Monday on increased selling of the American currency by exporters and banks amid a rally in the domestic equity market.
The rupee opened at 64.50 and traded between 64.54 and 64.42 during the day's trade.
Besides, the dollar’s weakness against some currencies overseas, fresh selling of the American currency by exporters as well as banks supported the rupee, forex dealers said.
Further, a strong domestic equity market influenced the rupee uptrend, they added.
On Friday, the rupee had slipped by 5 paise to 64.61 a dollar due to demand uptick for the American currency and persistent capital outflows.