Indian rupee has strengthened against US dollar on Thursday. Local currency rose 2 paise or 0.03 percent against dollar to trade at 64.51.

Rupee has witnessed a high of 64.50 and a low of 64.55. Its 52-week range was 63.93-68.86.

The Dollar index, a measure of the value of the US dollar relative to a basket of foreign currencies, fell 0.06 percent to trade at 97.50.

On Wednesday, rupee has fell 2 paise or 0.03 percent against dollar to settle at 64.52.

Local stock markets bounced back on Thursday snapping earlier losses. At 9.19 a.m, the Sensex was trading up 113.73 points or 0.36% at 31,397.37 with 22 components gaining.