The rupee on Wednesday gained 14 paise to 54.04 against the dollar in early trade at the Interbank Foreign Exchange on sustained selling of the US currency by exporters and banks.
Strengthening of euro against the dollar overseas also supported the local currency, forex dealers
said.
The rupee had gained 23 paise to end at nearly two-week high of 54.18 on Tuesday.
Meanwhile, the BSE benchmark Sensex fell by 112.82 points, or 0.58%, to 19,452.10 in early trade on Wednesday.