The Indian rupee rose against euro on Tuesday as euro fell on speculation that an economic slowdown in the region will pressure the European Central Bank to consider cutting interest rates.
Rupee futures for November 2011 contract rose as much as 0.47 paise at Rs. 68.1200 per euro on the National Stock Exchange (NSE) at 11.25am.
At the Chicago Mercantile Exchange (CME), EURUSD future for December 2011 contract traded at US$1.3814 per euro (USD appreciated by 0.76 per cent against EUR) and GBPUSD future for December 2011 contract traded at US$1.6035 per pound (USD appreciated by 5.64 per cent against GBP) at 11.30 AM today.
S&P CNX NIFTY, at NSE, traded at 5,287.70, down by 0.73 per cent, after opening at 5,278.60 against the previous closing of 5,326.60. It touched the intra-day low of 5,275.50 till the trading. (At 11.10 AM today).
At NSE, EURINR for November 2011 contract traded at Rs. 68.1200 per euro, rupee appreciated 0.47 paise against euro, after opening at Rs. 69.1000 against the previous closing price of Rs. 68.5950. Rupee rose to Rs. 68.1825 with a business volume of 9575 lots till the trading (At 11.25 AM today).