Mumbai, Jan 12 (PTI) The rupee advanced by 12 paise to 63.54 against the greenback in late morning deals on sustained bouts of dollar selling from banks and importers banks amid higher local equities and subdued dollar overseas.

The rupee opened higher at 63.60 per dollar from yesterday’s closing level of 63.66 at the inter-bank foreign exchange market today.

The domestic unit traded between 63.6150 and 63.5475 during morning deals.

The rupee was trading at 63.54 per dollar at 1130hrs.

“A weak dollar overseas is aiding the rupee,” a dealer said.

The US dollar slumped against its major rivals in early Asian trade due to weak factory inflation data, while the euro strengthened after the European Central Bank hinted that it could trim its monetary stimulus programme.

The 30-share BSE Sensex was trading higher by 74.06 points, or 0.21 per cent, at 34,577.55 at 1045 hrs.

This is published unedited from the PTI feed.