Rupee rose against euro on Greece default fears

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The Indian rupee rose against euro on Monday since the European finance ministers gather today to weigh the threat of a default in Greece, which is making fresh budget cuts to secure an international bailout.

Rupee futures for October 2011 contract rose as much as 0.75 paise at Rs. 66.1375 per euro on the National Stock Exchange (NSE) at 11.45am.

At the Chicago Mercantile Exchange (CME), EURUSD future for December 2011 contract traded at US$1.3326 per euro (USD appreciated by 0.66 per cent against EUR) and GBPUSD future for December 2011 contract traded at US$1.5495 per pound (USD appreciated by .73 per cent against GBP) at 11.49 AM today.

S&P CNX NIFTY, at NSE, traded at 4,844.45, down by 2 per cent, after opening at 4,874.40 against the previous closing of 4,943.25. It touched the intra-day low of 4,833.50 till the trading. (At 11.44 AM today).

At NSE, EURINR for October 2011 contract traded at Rs. 66.1375 per euro, rupee appreciated 0.75 paise against euro, after opening at Rs. 66.3900 against the previous closing price of Rs. 66.8875. Rupee rose to Rs. 66.4075 with a business volume of 9007 lots till the trading (At 11.45 AM today).

Read more about: europe, euro, greece
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