Mumbai: The rupee on Tuesday appreciated by 11 paise to 54.75 against the dollar in early trade at the Interbank Foreign Exchange (forex) market on selling of the US currency by exporters. Besides, a strong opening in the domestic equity market and strength in other currencies against the dollar overseas also supported the rupee, forex dealers said.
The rupee had gained three paise to end at 54.86 on Monday on late dollar selling by some exporters and custodian banks.
Meanwhile, the BSE benchmark index Sensex recovered by 151.39 points, or 0.80 per cent, to 19,029.35 in early trade.
A strong opening in the domestic equity market and strength in other currencies overseas also supported the rupee.