Rupee weakens; focus on Greek debt deadline

Published on Mon, Feb 06, 2012 at 14:36 |  Source : Reuters

Updated at Tue, Feb 07, 2012 at 11:26  

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Rupee weakens; focus on Greek debt deadline

MUMBAI (Reuters) - The rupee was down in afternoon trading on Monday as comfort from positive local equities was offset by caution ahead of a decision on Greece's debt deal expected at 1000 GMT, a move that will decide direction of global markets and the risk appetite.

* At 2:06 p.m. (0836 GMT), the rupee was at 48.83/84 to the dollar after touching 48.60, its highest since September 21. It closed at 48.6850/6950 on Friday.

* Greece's coalition members must tell the European Union whether they accept the terms of a new bailout in order to avoid a disorderly default.

* The BSE Sensex <.BSESN> was up 0.7 percent after surprisingly robust U.S. jobs data.

* Data from the U.S. Labor Department showed 243,000 non-farm jobs were created in January, its fastest pace in nine months, pulling the unemployment rate to an unexpected three-year low of 8.3 percent.

(Reporting by Aditya Phatak)

  

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