Mumbai: The rupee on Tuesday appreciated by 40 paise to 52.24 against the US dollar in early trade at the Interbank Foreign Exchange on selling of the American currency by exporters and banks.

Besides, a higher opening in the equity market and strengthening of euro against the dollar overseas also supported the rupee, forex dealers said.

The BSE benchmark Sensex recovered by 150.80 points, or 0.81 percent, to 18,859.78 in early trade today.

The rupee had witnessed its second biggest fall of 79 paise in 2012 to close at one-week low of 52.64 yesterday in line with sluggish stock market amid the US currency strengthening in the overseas market.

(Agencies)

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