Mumbai, June 5: The rupee today strengthened by 27 paise to trade at a fresh one-week high of 55.38 against the US dollar in early trade on the Interbank Foreign Exchange, as the American currency weakened against euro overseas.
In addition, dollar selling by exporters and a higher opening in the equity market also supported the rupee.
Dealers said apart from euro's gains against the American currency overseas, higher opening start in the domestic equity market and selling of dollars by exporters and some banks supported the rupee.
The rupee had lost 11 paise to close at 55.65 against the Greenback yesterday due to late dollar demand from importers.
Meanwhile, the BSE benchmark index Sensex rose by 98.66 points, or 0.61 per cent, to 16,087.06 in early trade today.