Forex dealers said strengthening of the euro against the dollar overseas and a higher opening in the domestic equity market also supported the local currency.
The rupee had lost 37 paise to end at a more than three-week low of 62.16 against the dollar yesterday on month-end demand for the US currency from importers and banks.
Meanwhile, the BSE benchmark Sensex moved up 97.40 points, or 0.46 per cent, to 21,171.99 in early trade today.