The rupee gained 14 paise to 62.27 against the dollar in early trade at the Interbank Foreign Exchange market today on fresh selling of the US currency by exporters.
Forex dealers said strengthening of the euro against the dollar overseas and a higher opening in the domestic equity market ahead of second quarter economic growth data also supported the rupee.
The local currency had lost 27 paise to close at 62.41 yesterday due to month-end demand from oil importers for the US currency, which strengthened in the overseas market.
Meanwhile, the benchmark BSE Sensex rose 245.15 points or 1.19 per cent to 20,780.06 in early trade today.
–PTI