Besides, a higher opening in the domestic equity market and continued capital inflows, strengthening of the euro against the dollar overseas, also supported the rupee, forex dealers said.
The rupee had gained 11 paise to end at one-week high of 54.84 against the US dollar in yesterday's trade on sustained selling of the US dollar by exporters and capital inflows.
Meanwhile, the BSE benchmark Sensex rose by 86.94 points, or 0.44 per cent, to 19,504.40 in early trade today.