Besides, euro's gains against the dollar overseas, higher opening start in the domestic equity market and selling of dollars by exporters and some banks supported the rupee, traders said.
The rupee had lost 48 paise to close at 55.42 against the Greenback in the last session.
Meanwhile, the BSE benchmark index Sensex rose by 164.40 points, or 0.98 per cent, to 16,883.27 in early trade today.
