The rupee today recovered by 11 paise to 61.68 against the dollar in early trade at the Interbank Foreign Exchange market amid a higher opening in the stocks. Sentiments turned buoyant after RBI yesterday cut the marginal standing facility rate, at which it lends emergency funds to banks, by 0.5 per cent to 9 per cent with an aim to improve liquidity and boost economic activities. The rupee had settled at 61.79 against the dollar yesterday, down by 35 paise over the previous close