Rupee to gain in line with peers

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The rupee is expected to rise towards two-month peaks on Friday, tracking gains in other regional peers and hopes for firmer stocks.

* S&P on Thursday affirmed its ratings on India and raised its outlook to stable from negative, on expectations that the country's fiscal position could begin to recover and the economy would remain on a strong growth path.

* At 0242 GMT, the MSCI index of Asian shares ex-Japan was trading 0.1% higher while the Nifty India stock futures traded in Singapore were up 0.14%, suggesting a higher start for the local market.

* Traders would also watch the dollar's performance versus majors for direction.

* The euro stabilized but remained under pressure on Friday on renewed concern about Greece after Athens said it may not be able to achieve its promised deficit cuts if its borrowing costs remain so high.

* The partially convertible rupee ended at 45.4450/4550 per dollar on Thursday, 0.2% weaker than 45.34/35 at close on Wednesday when it had risen to 45.3325, its strongest since Jan. 11.