Rupee soars by 51 paise against dollar in early trade

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The rupee gained a hefty 51 paise to 55.24 against the US dollar in early trade today at the Interbank Foreign Exchange market on increased dollar selling by banks.

Forex dealers said a higher opening in the domestic stock market and euro's gain against the American currency as concerns over eurozone and the US eased, supported the rupee.

The rupee had gained 9 paise to close at 55.75 against the US currency in the previous session on Friday.

Meanwhile, the BSE benchmark index Sensex recovered by 176.00 points, or 1.01 per cent, to 17,373.93.