Mumbai: The rupee recovered from over one-month low by rising 11 paise to 61.02 against the dollar in early trade on Tuesday at the Interbank Foreign Exchange market on selling of the American currency by exporters and banks.
Forex dealers said besides fresh selling of the American currency by exporters and banks, a higher opening in the domestic equity markets and dollar's weakness against other currencies overseas supported the rupee.
The rupee had plunged by 48 paise, logging its biggest fall in more than five weeks, to close at over one-month low of 61.13 against the greenback on Monday following demand for the US currency from importers.
Meanwhile, the benchmark BSE Sensex rose by 44.73 points, or 0.16 per cent, to 26,861.29 in early trade on Tuesday.
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