Rupee up on Asian peers, local shares; euro aids
The rupee strengthened on Tuesday comforted by gains in Asian currencies and the euro, positive local shares also aided the rupee.
The rupee strengthened on Tuesday comforted by gains in Asian currencies and the euro, positive local shares also aided the rupee.
* At 9:21 am, the partially convertible rupee was at 44.9750/9800 per dollar against Monday's close of 45.07/08.* The euro hit a three-week high against the dollar on Tuesday after a wave of short-covering triggered by a report saying Germany could make concessions on efforts to put together a bailout for Greece, with traders looking at a rise to $1.45.* The euro was at $1.4377 and the index of the dollar against six major currencies was at 74.586 points.* The GDP data due around 11 am (0530 GMT) will be eyed for more cues on growth and rupee direction. Median forecast from a poll of 28 economists is for an annual growth of 8.2% in the quarter through March, unchanged from the previous quarter. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
