ET:Rupee up on dollar inflows and euro's rise; local shares weigh
The Indian rupee edged up on Wednesday, supported by dollar inflows and the euro's rise to multi-week highs, but trading was volatile due to a choppy local equity market.
At 2:25 p.m. (0856 GMT), the rupee was at 49.12/13 to the dollar, higher than Tuesday's close of 49.19/20. The unit had so far moved in a wide band of 48.9850 to 49.2500, an indication of the choppy trade, traders said.
India's main share index lost most early gains and was up 0.13 percent.
The euro rose to multi-week highs versus the dollar and the yen as hopes that Greece would agree on austerity measures needed to secure a second bailout boosted sentiment and forced speculators to trim shorts in the common currency.
