The rupee appreciated by 17 paise to Rs 53.13 per dollar in early trade on the Interbank Foreign Exchange today, as the US currency weakened against euro and other major currencies.
Dealers said a firm trend in the domestic equity market also supported the rupee.
The domestic unit had lost 20 paise to close at a two-week low of Rs 53.30/31 per dollar yesterday.
Meanwhile, the 30-share BSE Sensex rose 191.52 points or 1.23 per cent to 15,709.44 in the opening trade today.