Rupee up 30 paise against dollar in early trade

The rupee on Friday recovered by 30 paise to 61.04 against the dollar at the Interbank Foreign Exchange market on increased selling of the US currency by exporters and banks.

Forex dealers said a higher opening in the domestic equity market and strengthening of the euro and yen against the dollar overseas supported the rupee.

The rupee had depreciated by 39 paise, logging its biggest daily loss in nearly two months, to end at 61.34 yesterday on fears of capital outflows from emerging markets after Federal Reserve signalled a sooner-than-expected hike in US benchmark interest rates.

Meanwhile, the benchmark BSE index Sensex recovered by 130.02 points, or 0.59 per cent, to 21,870.11 in early trade today.