Rupee up 15 paise versus dollar

The Indian rupee snapped its two-session losing streak to emerge 15 paise higher at Rs 44.55 per US dollar in early trade today on fresh selling of the American currency by banks and exporters.

The rupee resumed higher at 44.57/58 per dollar at the Interbank Foreign Exchange, as against the last closing level of Rs 44.70/71 per dollar, and moved up further to Rs 44.55 per dollar before quoting at Rs 44.59/60 per dollar at 1030 hours.

It hovered in a range between Rs 44.55 and Rs 44.65 per dollar during morning deals.

Banks and exporters preferred to reduce their dollar position in view of uncertainty in the currency market, a forex dealer said.

The dollar steadied against Japan's currency in early trade in the Tokyo market today after a sudden drop to a nearly four-month low, while the yen extended gains against the euro.