The rupee rose by 37 paise to 59.82rupees against the American currency in early trade on the Interbank Foreign Exchange today, extending yesterday's recovery on increased dollar selling by banks and exporters, and strong domestic equity market.However, month-end demand from oil importers for the American currency limited gains. Selling of dollars by exporters and some banks coupled with a higher opening in the equity market supported the local unit. Euro's gain against the American currency overseas also supported the rupee.The rupee had strengthened by 53 paise to close at 60.19 rupees per dollar yesterday after current account gap moderated sharply.