Rupee jettisons gains on importer demand; euro checks fall

The rupee gave up all intraday gains on Tuesday due to strong demand for the US unit from importers, but euro's rise and positive local stocks limited the retracement.

* At 1:56 pm, the partially convertible rupee was at 45.0700/0725 per dollar, stronger than previous close of 45.07/08 but far from the day's peak of 44.97 rupee.

* The rupee is expected to move in 45.00-45.09 band for the rest of the session, traders said.

* The euro rose to a three-week peak against the dollar on Tuesday after a report saying Germany could make concessions on efforts to put together a bailout for Greece, helping to ease fears over a Greek debt restructuring.

* The euro was at USD 1.4410 and the index of the dollar against six major currencies was at 74.524 points.

* The benchmark stock index extended gains over 1%, tracking firm Asian markets.