Besides, the dollar's weakness against other currencies overseas and a higher opening in the domestic equity market also supported the rupee, forex dealers said.

The rupee had gained two paise to close at one-month high of 62.14 against the dollar in yesterday's trade.

Meanwhile, the benchmark BSE Sensex recovered 35.03 points, or 0.12 percent, to 27,460.76 in early trade on Wednesday.

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