Mumbai, Apr 13 (PTI) The rupee recovered 5 paise from its early losses against the greenback in late morning deals following bouts of dollar selling from banks and exporters amid higher local equities.

The rupee opened lower at 65.31 from yesterday’s closing level at 65.26 per dollar at the inter-bank foreign exchange here.

Later, the domestic unit recovered on sustained dollar selling by banks to trade at 65.21 at 1015 hrs.

It traded between 65.31 and 65.21 during morning deals.

Improving macro economic conditions and positive equities amid good FII inflows supporting the rupee’s sentiment, a dealer said.

The industrial production grew by 7.1 per cent in February, while key retail inflation slipped to a five-month low of 4.28 per cent in March, an official data said yesterday.

Meanwhile, the US dollar was slightly higher against basket of currencies in early Asian trade.

The 30-share BSE Sensex trading higher by 159.75 points or 0.47 per cent at 34,260.88 at 1035 hrs.

This is published unedited from the PTI feed.