Rupee up 25 paise vs dollar.

MUMBAI: Snapping a six-session losing streak, the rupee on Friday rose by 25 paise to 64.30 in early trade on fresh selling of the US dollar by exporters, after finance minister P Chidambaram sought to assuage investors asserting there is no need for "excessive and unwarranted pessimism".

Also, weakening of the dollar against some currencies overseas and RBI governor D Subbarao assuring that the central bank has adequate foreign exchange reserves to deal with the declining value of rupee also boosted the currency, forex dealers said.

The local currency had lost 44 paise to close at a new low low of 64.55 against dollar, after breaching the 65 mark to mark all-time intra-day low of 65.56 in yesterday's trade at the interbank foreign exchange market.

Source : timesofindia.indiatimes.com