The rupee gained 22 paise to Rs 52.73 per dollar in early trade on the Interbank Foreign Exchange today on selling of the US currency by some banks and exporters.
However, a lower opening in the equity market restricted the rupee gains.
Dealers said selling of dollars by exporters and some banks strengthened the rupee.
The rupee had softened by 3 paise to close at Rs 52.98/99 per dollar yesterday, in line with a minor fall in stocks.
Meanwhile, the BSE Sensex fell by 82.84 points, or 0.52%, to 15,774.24 in opening trade today.