Mumbai - The rupee recovered by 8 paise to 61.27 against the US dollar in early trade on Monday at the Interbank Foreign Exchange market on fresh selling of the American currency.

Besides strengthening of the euro and yen against the dollar in overseas market supported the rupee, but a lower opening in the domestic equity market capped gains, forex dealers said.

The rupee had lost 30 paise to close at 61.35 in the previous session on Friday on fresh demand for the US currency from banks and importers due to firm dollar overseas and sharp fall in local equities.

The benchmark BSE Sensex fell by 159.35 points, or 0.61 percent, to 26,138.03 in early trade today. (PTI)