India’s rupee headed for a weekly gain after European leaders agreed on more financial aid for Greece, reducing concern the region’s debt crisis will worsen and bolstering demand for emerging-market assets. All of Asia’s 10 most-traded currencies strengthened after the 159 billion euro ($229 billion) plan was announced in Brussels yesterday. The Bombay Stock Exchange’s Sensitive Index rose 0.6 percent today. Overseas investors bought $75 million more local stocks than they sold in the first three days of the week, according to exchange data. “We are seeing foreign flows into equities after the positive news in Europe and the dollar’s weakness against major global currencies is also helping the rupee,” said Sudarshan Bhatt, chief currency trader at Mumbai-based Corporation Bank. The rupee advanced 0.3 percent this week and 0.2 percent today to 44.40 per dollar as of 9:54 a.m. in Mumbai, according to data compiled by Bloomberg. The rupee will likely gain the second-most among Asian currencies today after the South Korean won, according to a research note from ING Groep NV released this morning. Offshore forwards indicate the rupee will trade at 44.88 in three months, compared with expectations of 45.04 yesterday. Forwards are agreements to buy or sell assets at a set price and date. Non-deliverable contracts are settled in dollars. To contact the reporter on this story: Jeanette Rodrigues in Mumbai at jrodrigues26@bloomberg.net To contact the editor responsible for this story: Sandy Hendry at shendry@bloomberg.net

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