The euro that declined against the dollar and the yen in early European trading on Tuesday following a weak European stocks, recovered its losses after a report showed that the German economic sentiment unexpectedly improved in March.
The euro thus rose to near an 11-week high against the yen.
The Centre for European Economic Research, or ZEW, said its economic sentiment indicator for Germany rose to minus 3.5 in March from minus 5.8 recorded in the previous month.
The improvement was unexpected, as economists had forecast a decline to minus 8. However, the indicator is still below its historical average of 26.2.
After a brief slide, the euro advanced against the pound during early deals on Tuesday.
he rupee at 51.49/51 per dollar, off its intra-day high of 51.235, as a drop in local stocks renewed capital outflow concerns. It closed Monday at 51.385/395.
