Rupee up by 12 paise against dollar in early trade

Besides, a higher opening in the domestic equity market and strengthening of the euro against the dollar overseas on strong Spanish bond auction and upgrade to Greece's credit rating supported the rupee, dealers said.

The rupee had closed flat at 54.85 against the US dollar in yesterday's trade amid RBI keeping key rates unchanged in the mid-quarter policy review.

Meanwhile, the BSE benchmark index Sensex surged further by 121.82 points, or 0.63 per cent, to 19,486.57.