Rupee undervalued, but no need for excessive pessimism, says Chidambaram - Pdf Slider

Finance Minister P Chidambaram allayed investors` fears about the rupee falling 5.5 per cent in five days, saying though the currency is undervalued and has overshot appropriate levels, there is no need for "excessive and unwarranted pessimism". After maintaining silence over the domestic currency`s fall this entire week, the finance minister addressed a press conference on Thursday, a day when the rupee breached 65-mark against dollar, to assert that there was no cause for panic and said stability will return to currency markets as government continues to promote investment and growth.