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Rupee trims up on choppy euro before EU summit

Rupee trims up on choppy euro before EU summit
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First Published: Thu, Jul 21 2011. 01 54 PM IST
Updated: Thu, Jul 21 2011. 01 54 PM IST
Mumbai: The rupee erased intraday gains in afternoon trades on Thursday as the euro turned wobbly before the euro zone summit and local shares were negative.
At 1:31 pm, the partially convertible rupee was at 44.4525/4550 per dollar, down from high of 44.4275 hit earlier, but little changed from Wednesday’s close of 44.45/46.
The euro was at $1.4235 versus $1.4222 at close of local forex market on Wednesday. Earlier, the euro had touched a high of $1.4294.
German Chancellor Angela Merkel and France’s President Nicolas Sarkozy reached a joint position late on Wednesday over a new bailout plan for Greece that will include participation of the banking sector.
The index of the dollar against six major currencies was down 0.08% at 74.733 points from 74.837.
The local benchmark share index was down 0.24%.
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First Published: Thu, Jul 21 2011. 01 54 PM IST
More Topics: Markets | Rupee | Currency | Asia | BSE |