The rupee was trading down by 4 paise to 65.01 in late morning deals on bouts of dollar demand from importers and banks amid lower local equities.
The rupee opened higher at 64.94 per dollar as against yesterday's close of 64.97 at the inter-bank foreign exchange here.
The domestic unit witnessed volatility and hovered between 64.94 and 65.03 during morning deals. It was trading at 65.01 at 1040 hrs.
"Weakness in US dollar overseas due to fresh trade war fears is igniting rupee volatility," a dealer said.
Meanwhile, the US dollar fell against its major peers in early Asian trade after US President Donald Trump said he had instructed US trade officials to consider USD 100 billion in additional tariffs on China.
The 30-share BSE Sensex was trading marginally lower by 35.00 points or 0.10 per cent at 33,561.80 at 1050 hrs.
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