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The rupee recovered by 12 paise to 51.02 against the American currency in the late morning trade due to fresh selling of dollar by banks and exporters in view of its weakness in the overseas market.
The domestic unit resumed slightly higher at 51.13/14 per dollar at the Interbank Foreign Exchange (Forex) market against the last closing level of 51.14/15 and moved up further to 51.02 at 10.30 am.
It hovered at 51.02-51.20 against the dollar in the morning deals.
Fresh selling of dollar by banks and exporters on the back of lower dollar in the overseas market as well as higher opening in the local market mainly boosted the rupee value against the dollar, a forex dealer said.
In New York, the dollar reversed a gain against the euro, but recovered from a month low versus the Japanese yen, yesterday as investors returned from the Easter holiday to react to a disappointing US employment report released at the end of last week.
Meanwhile, the Indian benchmark Sensex recovered by 32.75 points or or 0.19 per cent to 17,254.89 in early trade.
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