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Continuing its rising streak for the seventh straight session, the rupee rose by 9 paise to 62.18 against the dollar in early trade today at the Interbank Foreign Exchange on sustained selling of dollars by exporters.
Forex dealers said besides selling of the American currency by exporters and banks, dollar's weakness against other currencies overseas also supported the rupee.
They said, however, a lower opening of the domestic equity market capped the rise.
The rupee had strengthened by 19 paise against US dollar to end at 62.27 in yesterday's trade.
Meanwhile, the benchmark BSE Sensex was down by 34.19 points, or 0.12%, to 28,157.83 in early trade today.
