The rupee gained 43 paise to tradeat 54 rupees 88 paise against the US dollar in early trade today at theInterbank Foreign Exchange. This follows American currency weakeneningagainst euro and other currencies overseas. Dollar selling by exporters and banks, amid a higheropening in the domestic equity market also supported the rupee. Euro rose against the US dollar overseas after the International Monetary Fund said it was releasing 1.48 billion euros in new funds to troubled Portugal. The rupee yesterday lost 16 paise to close at 55.31 against the American currency tracking a weak stock marketamid fresh demand of the American currency from importers.