The rupee appreciated by seven paise to 62.43 against the U.S. dollar in early trade on Friday at the Interbank Foreign Exchange on fresh selling of the American currency by exporters and banks.
Besides, a higher opening in domestic stock market and passage of the Insurance Bill in Parliament supported the rupee, forex dealers said.
The rupee had gained 28 paise to close at 62.50 against the Greenback in Thursday’s trade, in line with smart recovery in local equities and fresh dollar selling by exporters. Meanwhile, the benchmark BSE Sensex regained the 29,000-mark by surging 253.35 points, or 0.87 per cent, to 29,183.76 in early trade.
