Forex dealers said besides fresh selling of the American currency by exporters and banks, a higher opening in the domestic equity markets and dollar's weakness against other currencies overseas supported the rupee.

The Indian rupee had plunged by 48 paise, logging its biggest fall in more than five weeks, to close at over one-month low of 61.13 against the greenback on Tuesday following demand for the US currency from importers.

Meanwhile, the benchmark BSE Sensex rose by 44.73 points, or 0.16 percent, to 26,861.29 in early trade on Tuesday.

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