* G20 meet outcome awaited for cues on euro zone recovery - traders * Rupee seen in 48.50-49.50/dlr range next week - Corp Bank (Updates to close) By Aditya Phatak MUMBAI, Oct 14 (Reuters) - The Indian rupee strengthened on Friday, supported by strong domestic equities and a rise in the euro that was triggered by views that European policymakers were inching closer to a plan to tackle the region's debt crisis. The partially convertible rupee ended at 49.0175/0275 per dollar, 0.2 percent stronger than Thursday's close of 49.1200/1300 after moving in band of 48.9850 to 49.2200 during trade. The unit ended the week up 0.3 percent. "Stocks were positive and major currencies gained against the dollar, so some rise in rupee is not surprising," said Sudarshana Bhat, chief foreign exchange dealer with state-run Corporation Bank. "But next week is likely to see the rupee in a band of 48.50-49.50 with some concrete action from Europe being awaited for future direction." India's main share index ended up nearly 1.2 percent to its highest close in nearly four weeks, while the euro was at $1.3784 at end of rupee trade from $1.3737 previously. The index of the dollar against six major currencies was at 76.992 points from 77.204 points on Thursday. Group of 20 finance chiefs and central bank heads meet in Paris on Friday and Saturday where French and German officials are trying find a resolution plan for the region's debt crisis in time for a European Union summit on Oct. 23. Underlining the challenge for European policymakers, Standard and Poor's cut Spain's long-term credit rating, citing the country's high unemployment, tightening credit and high private sector debt. Intraday, the rupee had risen on views that a high interest rate differential will continue to attract foreign investments into local debt, traders said. Government data showed inflation in September stayed above 9 percent for the tenth straight month, girding the market for another interest rate rise even as policymakers around the world mull easing rates to stimulate a weak global economy. Foreign funds have net sold $239 million of local shares so far in 2011 but have bought $4.25 billion in debt securities in the same period. The one-month onshore forward premium on the rupee was at 22.25 points from 21.50 on Thursday, the three-month premium was at 60 points from 57.50 points and the one-year premium was 138 points, from 126.00. The one-month offshore non-deliverable forward contracts were quoted at 49.31, weaker than the spot rupee rate. In the currency futures market , the most traded near-month dollar-rupee contracts on the National Stock Exchange, the MCX-SX and the United Stock Exchange ended at 49.1300, 49.1325, and 49.1350, respectively. The total traded volume on the three exchanges was $4.19 billion. (Editing by Aradhana Aravindan)

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