The rupee strengthened 11 paise to trade at 64.34 against the US dollar in the morning session on Monday riding on higher foreign funds inflows. The domestic currency received a boost from fresh selling of the American unit by exporters and banks amid a better opening in domestic equities.
However, a strong dollar overseas squeezed the rupee’s gains, traders added.
On Friday, the rupee had ended flat at 64.45 against the US currency in an otherwise quiet and range-bound trade amid weaker dollar sentiment overseas.
The benchmark Sensex rose 73.69 points, or 0.23 per cent, to 32,094.44 points in early trade today.