Indian rupee recovered by 11 paise to trade at 60.84 against the US dollar in early trade today on selling of the American currency by banks and exporters.
Besides, a higher opening in the domestic equity market also supported the local currency but dollar’s gains against other currencies overseas capped the gains, forex dealers said.
Yesterday, the rupee had lost 35 paise to close at a four-week low of 60.95 after dipping below 61-mark against the American currency on growing concern that US hiking interest rates sooner-than-expected will hit inflows.
The rupee had depreciated by over one per cent in the past two days.
Meanwhile, the benchmark BSE Sensex recovered by 87.77 points, or 0.32 per cent, to trade at 27,145.18 in early trade today.