Mumbai: The rupee recovered by 8 paise to 60.22 against the dollar in early trade on Tuesday at the Interbank Foreign Exchange market on fresh selling of the US currency by exporters amid sustained foreign capital inflows.
The local currency had shed two paise to close at over one-month low of 60.30 per dollar on Monday on fag-end demand for the American currency from banks and importers.
Dealers said besides dollar selling by exporters, gains in other currencies against the American unit overseas and a higher opening in the domestic equity market supported the rupee.
Meanwhile, the benchmark BSE index Sensex rose by 119.33 points, or 0.46 per cent, to 25,834.50 in early trade on Tuesday.
First Published: Tuesday, July 22, 2014, 09:37