The paper proposes an adaptive continuous wavelet transform (ACWT) based rake receiver for ultra wideband (UWB) systems to mitigate interference and improve performance. This receiver utilizes adaptive equalization and maximizing the use of available bandwidth, achieving better signal-to-noise ratios across various UWB channels compared to conventional receivers. Simulation results demonstrate significant performance improvements, particularly with increasing rake fingers, showing enhancements in bit error rate at lower signal-to-noise ratios.