Mumbai: The rupee trimmed its initial gains, but was still quoting higher by 4 paise at 64.12 against the American currency in late morning deals on bouts of dollar selling from banks and exporters.
The domestic unit opened higher at 64.05 from its previous close of 64.16 at the Interbank Foreign Exchange (Forex) market.
It was trading between 64.1275 per dollar and 64.05 per dollar in late morning deals, before quoting at 64.12 at 1045 hrs.
Globally, the US dollar was steady in early Asian trade with traders adopting a cautious stance as they wait for the outcome of the US Federal Reserve's two-day policy meeting that takes place against the backdrop of a looming crisis in Greece.
Meanwhile in the stock markets, the BSE's 30-scrip index, Sensex, was trading lower at 26,523.23, down 63.32 points, or 0.24%.
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