MUMBAI: The rupee recovered 7 paise to 68.65 against the U.S. dollar in early trade today at the Interbank Foreign Exchange market on selling of the U.S. currency by exporters and banks amid a higher opening in the domestic equity market.

Besides, weakness in the dollar against other currencies overseas, dealers said, supported the rupee.

Moreover, domestic equities jumped, fuelling the uptrend.

The rupee had lost 15 paise to close at a fresh 30-month low of 68.72 against the U.S. dollar in yesterday's trade on fresh demand for the American currency from banks and importers in view of a persistent fall in domestic shares amid foreign capital outflows.

Meanwhile, the benchmark BSE Sensex rebounded 251.91 points, or 1.09 percent, to 23,227.91 in early trade today.

Read More: Defence Budget Of India Likely To Observe 9 Percent Hike This FiscalShort-Coverings, Asian Cues Swell Markets, 

Centre Can Opt For Longer Route to 3% Fiscal Deficit Target: Survey

Sensex Slips 113 Points After Rail Budget Fails To Inspire Market