Mumbai: The rupee appreciated by 11 paise to 65.53 against the dollar in early trade on Wednesday on selling of the American currency by exporters and banks.
Forex dealers said domestic equity markets opening with gains too supported the rupee, but dollar's strength against other currencies overseas capped the gains.
The rupee had declined by 5 paise to close at one-month low of 65.64 against the US dollar in yesterday's trade on fag-end demand for the American currency from banks amidst sustained foreign capital outflows.
Meanwhile, the benchmark BSE Sensex rose by 207.20 points, or 0.78 percent, to 26,797.79 in early trade.
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