ET:Rupee up on euro's gains post EU plan, local shares
MUMBAI: The Indian rupee rose sharply on Friday lifted by the euro's surge and gains in local shares after European leaders announced a sweeping plan on Thursday to solve Greece's debt crisis and prevent spread of financial contagion in the region.
At 9:16 a.m., the partially convertible rupee , was 44.3825/3850 per dollar, stronger from Thursday's close of 44.515/525.
The euro was at $1.4385 versus $1.4182 when the local forex market closed on Thursday, while the index of the dollar against six major currencies was at 74.110 points against 74.914.
Gains across most Asian currencies also supported the rupee. For a snapshot of Asian units, see
The local benchmark share index was up over 0.8 percent.
European leaders on Thursday agreed to ease lending terms to Greece, Ireland and Portugal, while private investors would voluntarily swap their Greek bonds for longer maturities at lower interest rates to help Athens.
