MUMBAI: The Indian rupee rose further in afternoon trading as hopes that Greece will avoid a disorderly default improved the market's appetite for risk, pushing up the euro and global stock prices.
At 2:56 p.m. (0926 GMT), the rupee was at 49.33/34 to the dollar, up sharply from Monday's close of 49.79/80. It hit a high of 49.3250.
Some traders expect the rupee to take a breather around 49.20 after the sharp rise so far in the session.
The euro rose and world shares recovered on hopes of a deal this week to free up the next tranche of aid for Greece.
Easing demand for dollars by oil importers to meet end-month payments added to support for the rupee, traders said.
