Rupee to rise after EU plan on debt crisis

MUMBAI (Reuters) - The rupee is set to climb on Friday in tandem with the euro's surge after European leaders outlined a plan late on Thursday that could solve Greece's debt crisis and prevent spread of financial instability through the region.

* Gains across Asian equities will also aid the rupee, which should open around 44.38 per dollar and move in a 44.30-44.45 band, traders said. It had closed 0.16 percent weaker at 44.515/525 on Thursday.

* Most Asian currencies also rose.

* At 0243 GMT, the euro was at $1.4390 versus $1.4182 when the rupee closed on Thursday, while the index of the dollar against six major currencies was at 74.099 points against 74.914.

* The MSCI index of Asian stocks ex-Japan and the Nifty India futures traded in Singapore were both up 1 percent, suggesting a positive opening for local shares.

* European leaders on Thursday agreed to ease lending terms to Greece, Ireland and Portugal, while private investors would voluntarily swap their Greek bonds for longer maturities at lower interest rates to help Athens.

(Reporting by Aditya Phatak; Editing by Ranjit Gangadharan)