Rupee fall against euro ahead of ECB decision

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The Indian rupee fell against euro on Wednesday on speculation that mounting debt concerns and signs of economic slowdown will compel the European Central Bank to increase monetary stimulus at its meeting tomorrow.

Rupee futures for October 2011 contract fell as much as 0.30 paise at Rs. 65.6975 per euro on the National Stock Exchange (NSE) at 12.22pm.

Euro fell after Moody's downgraded Italy's credit rating, fuelling worries over eurozone debt and the impact of a possible Greek default on the global economy.

At the Chicago Mercantile Exchange (CME), EURUSD future for December 2011 contract traded at US$1.3313 per euro (USD depreciated by 0.58 per cent against EUR) and GBPUSD future for December 2011 contract traded at US$1.5431 per pound (USD depreciated by 0.40 per cent against GBP) at 12.25 PM today.

S&P CNX NIFTY, at NSE, traded at 4,800.75, up by 0.60 per cent, after opening at 4,791.30 against the previous closing of 4,772.15. It touched the intra-day high of 4,819.35 till the trading. (At 12.13 PM today).

At NSE, EURINR for October 2011 contract traded at Rs. 65.6975 per euro, rupee depreciated 0.30 paise against euro, after opening at Rs. 65.5925 against the previous closing price of Rs. 65.3950. Rupee fell to Rs. 65.4700 with a business volume of 6620 lots till the trading (At 12.21 PM today).

Read more about: euro, ecb, europe
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