MUMBAI: The rupee strengthened by 11 paise to 62.67 against the dollar in early trade today at the Interbank Foreign Exchange on fresh selling of the US currency by exporters and banks.
Forex dealers said besides selling of the American currency by exporters and banks, a higher opening in domestic stock market supported the rupee but the dollar's strength against other currencies overseas, limited the gains.
The rupee had eased by two paise to close at fresh two-month low of 62.78 against the Greenback in yesterday's trade on sustained demand for the US dollar from importers.
Meanwhile, the benchmark BSE Sensex recovered by 220.85 points, or 0.77 per cent, to trade at 28,880.02 in early trade today.