Mumbai: The rupee trimmed its initial gains, but was still trading higher at 55.06 against the dollar in late morning deals owing to exporters selling, despite higher dollar overseas.
The rupee opened higher at 54.97 per dollar as against the previous closing level of 55.11 at the Interbank Foreign Exchange (Forex) market.
It gained further to 54.95 in early deals, before quoting 55.06 per dollar at 1100 hrs, still up by 5 paise over its last close.
The rupee moved between of 54.80 and 55.10 per dollar during late morning trade.
In international market, the US dollar rose against Japanese yen in early trade on fresh remarks by Japanese economic minister about currency's recent prices levels.
Meanwhile, the BSE-30 share barometer Sensex was trading slightly down by 4.23 points or 0.02 percent to 20,221.33 at 1105 hours.
First Published: Tuesday, May 21, 2013, 10:35