The rupee rose by 31 paise to 62.15 in early trade on Thursday at the Interbank Foreign Exchange as the dollar weakened against other major overseas currencies.
Besides, increased dollar selling by exporters and a higher opening in the domestic equity market also supported the rupee, forex dealers said.
The rupee had gained 14 paise to close at 62.46 against the dollar in previous session on Tuesday, supported by a better-than-expected current account deficit data.
The forex market remained closed on Wednesday on account of "Gandhi Jayanti".
Meanwhile, the BSE benchmark Sensex rose by 156.43 points, or 0.80%, to 19,673.58 in early trade on Thursday.