Rupee rises against euro; debt crisis fears weigh

The Indian rupee rose against euro on Friday as euro fell as European officials failed to soothe investor fears that the euro zone's debt crisis could trigger a credit crunch if funding costs run out of control. Rupee futures for November 2011 contract rose as much as 0.29 paise at Rs. 69.4450 per euro on the National Stock Exchange (NSE) at 11.59am.

At the Chicago Mercantile Exchange (CME), EURUSD future for December 2011 contract traded at US$1.3301 per euro (USD appreciated by 0.20 per cent against EUR) and GBPUSD future for December 2011 contract traded at US$1.5446 per pound (USD appreciated by 0.38 per cent against GBP) at 12.00 PM today.

S&P CNX NIFTY, at NSE, traded at 4,744.60, down by 0.25 per cent, after opening at 4,731.30 against the previous closing of 4,756.45. It touched the intra-day low of 4,700.50 till the trading. (At 11.55 AM today).

At NSE, EURINR for November 2011 contract traded at Rs. 69.4450 per euro, rupee appreciated 0.29 paise against euro, after opening at Rs. 69.6500 against the previous closing price of Rs. 69.7350. Rupee rose to Rs. 69.6500 with a business volume of 12789 lots till the trading (At 11.59 AM today).

Read more about: euro, euro zone, futures
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