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Rupee rises against euro

By Religare

The Indian rupee appreciated 0.23 paise to Rs 70.2350 against the euro on Monday on reports that 17-country eurozone has fallen back into recession for the first time in three years as the fallout from the region's financial crisis was felt from Amsterdam to Athens. The euro zone economy shrank 0.1 per cent in the third quarter, following a contraction of 0.2 per cent in the preceding quarter. At MCXSX, EURINR for November 2012 contract traded at Rs. 70.2350 per euro, rupee appreciated 0.23 paise against euro, after opening at Rs. 70.4725 against the previous closing price of Rs. 70.4650. Rupee rose to Rs. 70.4725 with a business volume of 14546 lots till the trading (At 12.19 PM today). Sentiment improved further as the single currency weakened after Spanish Prime Minister Mariano Rajoy rejected as "unacceptable" a proposal from EU President Herman Van Rompuy to cut the bloc's 2014-2020 budget by 75 billion euros.


At the Chicago Mercantile Exchange (CME), EURUSD future for December 2012 contract traded at US$1.2766 per euro (USD appreciated by 0.12 per cent against EUR) and GBPUSD future for December 2012 contract traded at US$1.5921 per pound (USD depreciated by 0.36 per cent against GBP) at 12.15 PM today.

S&P CNX NIFTY, at NSE, was trading at 5,565.15, down by 0.16 per cent, after opening at 5,577.30 against the previous closing of 5,574.05. It touched the intra-day low of 5,552.25 till the trading. (At 12.14 PM today).

Story first published: Monday, November 19, 2012, 16:30 [IST]
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