The rupee today recovered by six paise to 54.70 against the dollar in early trade at the Interbank Foreign Exchange (forex) market on selling of US currency by exporters and banks.Forex dealers said strengthening of the euro against the dollar overseas after the ECB Chief's positive comments last week about the euro-zone's outlook and a higher opening in the local equity market also supported the rupee.The rupee had lost 19 paise to close at 54.76 against the dollar on Friday on weak industrial production data and rising trade deficit due to fall in exports.