The rupee declined by 5 paise to 64.57 against the US dollar at the interbank foreign exchange today due to higher demand for the American currency from importers and banks amid sustained foreign fund outflows.The rupee had lost 14 paise to end at 64.52 against the US dollar yesterday after RBI decided to keep the key policy rates unchanged and raised the inflation forecast. Meanwhile, the benchmark Sensex recovered 114.25 points to 32,711 in early part of the session.