Mumbai: The rupee today appreciated by 8 paise to 62.29 in early trade at the Interbank Foreign Exchange today on increased dollar selling by exporters and some banks amid sustained capital inflows.

A higher opening in the domestic equity market also supported the rupee, but dollar’s strength against other currencies overseas ahead of US jobs data, capped the gains, forex dealers said.

The rupee had gained 20 paise to close at a two-week high of 62.37 yesterday on positive trends in local equities.

Meanwhile, the benchmark BSE Sensex recovered by 127.87 points, or 0.63 per cent, to 20,438.61 in early trade today.

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