Rupee up on inflows, euro; local shares weigh

Published on Wed, Feb 08, 2012 at 14:42 |  Source : Reuters

Updated at Thu, Feb 09, 2012 at 11:35  

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Rupee up on inflows, euro; local shares weigh

MUMBAI (Reuters) - The rupee edged up on Wednesday, supported by dollar inflows and the euro's rise to multi-week highs, but trading was volatile due to a choppy local equity market.

* At 2:25 p.m. (0856 GMT), the rupee was at 49.12/13 to the dollar, higher than Tuesday's close of 49.19/20. The unit had so far moved in a wide band of 48.9850 to 49.2500, an indication of the choppy trade, traders said.

* The BSE Sensex lost most early gains and was up 0.13 percent.

* The euro rose to multi-week highs versus the dollar and the yen as hopes that Greece would agree on austerity measures needed to secure a second bailout boosted sentiment and forced speculators to trim shorts in the common currency.

(Reporting by Aditya Phatak; Editing by Aradhana Aravindan)

  

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