Rupee drops against euro on IMF hopes

The Indian rupee fell against euro on Tuesday as Euro zone finance ministers agreed to give the International Monetary Fund 150 billion euros in bilateral loans to help resolve its debt crisis, aided by Sweden, Denmark, Poland and the Czech Republic. Rupee futures for December 2011 contract falls as much as 0.17 paise at Rs. 69.1450 per euro on the National Stock Exchange (NSE) at 12.09pm.

At the Chicago Mercantile Exchange (CME), EURUSD future for March 2012 contract traded at US$1.3020 per euro (USD appreciated by 0.04 per cent against EUR) and GBPUSD future for March 2012 contract traded at US$1.5508 per pound (USD depreciated by 0.006 per cent against GBP) at 12.11 PM today.

S&P CNX NIFTY, at NSE, was trading at 4,600.5, down by 0.27 per cent, after opening at 4,635.80 against the previous closing of 4,613.10. It touched the intra-day low of 4,580.20 till the trading. (At 12.05 PM today).

At NSE, EURINR for December 2011 contract traded at Rs. 69.1450 per euro, rupee depreciated 0.17 paise against euro, after opening at Rs. 69.0450 against the previous closing price of Rs. 68.9750. Rupee fell to Rs. 68.9325 with a business volume of 7121 lots till the trading (At 12.09 PM today).

Read more about: currency, euro, euro zone
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