The rupee today rose by 14 paise to 54.40 against the dollar in early trade at the Interbank Foreign Exchange market on continued selling of the US currency by exporters and banks.
Besides, a higher opening in the domestic equity market and strengthening of euro, which hovered at seven-week high against the American currency overseas, supported the rupee, forex dealers said.
Meanwhile, the BSE benchmark index Sensex extended yesterday's gains by rising 99.74 points, or 0.51%, to 19,491.60 in early trade today.
The rupee had gained 14 paise to close at 54.54 against the dollar yesterday after the ruling government's victory in Parliament over FDI in multi-brand retail sector amid sustained selling of the US currency.
