MUMBAI: The rupee recovered 26 paise to 67.97 against the US dollar in early trade today at the Interbank Foreign Exchange market on fresh selling of the American currency by exporters.
Besides, dollar's weakness against other currencies overseas and a rebound in domestic equity market in early hours supported the rupee, forex dealers said.
The local unit had lost 18 paise to close at a fresh 29-month low of 68.23 in yesterday's trade on persistent dollar demand from banks and importers despite a lower greenback overseas after the US Fed kept interest rates unchanged.
The benchmark BSE Sensex recovered 153.99 points, or 0.62 per cent, to 24,623.56 in early trade today.