Rupee up 25 paise against dollar in early trade

MUMBAI: The rupee appreciated by 25 paise to 56.55 against the US dollar in early trade today at the Interbank Foreign Exchange market on hopes that the government will take steps to check the currency's slide.

Besides, dollar selling by banks and exporters amid euro strengthening the American currency overseas after the European union reaffirmed its commitment to use its bailout funds flexibility also supported the rupee.

The rupee closed at 56.80 in yesterday's trade, a rise of 35 paise, or 0.61 per cent, its biggest per centage gain in two weeks.

Meanwhile, the BSE benchmark index Sensex surged by 269.49, or 1.58 per cent, to 17,260.25 in early trade today.