Mumbai, May 15: The rupee was trading 10 paise up at 53.86 against the American currency in the mid-session after touching 54-level in the morning trade due to fresh selling of dollars by banks and exporters.
The rupee resumed lower at 54.05 per dollar as against the yesterday's closing level of 53.96 per dollar and dropped further to 54.1250 per dollar.
However, the rupee recovered afterwards to 53.55 per dollar before quoting at 53.86 per dollar at 1030 hrs due to fresh selling of dollars by banks and exporters in view of recovery in the equity market.
The Indian benchmark sensex recovered by 28 points or 0.17 per cent after touching 17-week lows.
In New York, the dollar strengthened yesterday, pushing the dollar index to an 11th straight session of gains - its longest winning streak since 2008 - as a political stalemate in Greece weighed on the euro.