Mumbai: The rupee recovered by 6 paise to 66.78 against the dollar in early trade on Wednesday on fresh selling of the American currency by exporters and banks.
Forex dealers said dollar's weakness against other currencies overseas as falling oil prices renewed low inflation concerns ahead of the Federal Reserve's interest rate decision next week, too supported the rupee.
They said, however, a lower opening of the domestic equity market, capped the gains.
The rupee had plunged to close at its fresh two-year low of 66.84 against the dollar by falling 11 paise in yesterday's trade on consistent demand for the American currency from banks and importers.
Meanwhile, the benchmark BSE Sensex fell by 84.67 points or 0.33 per cent to 25,225.66 in early trade.
