Indian Rupee Jumps More Than 1 pct on Euro, Share Surge.

The Indian rupee surged 1.3 percent on Friday in tandem with local equities and the euro as worries over European economy ebbed after the region's leaders agreed on a plan on Thursday to contain the festering debt crisis.

* At 9:16 a.m., the partially convertible rupee was at 48.86/87 per dollar, sharply stronger from Tuesday's close 49.51/52. The domestic currency market was closed on Wednesday and Thursday for religious festivals.

* The dollar nursed heavy losses early in Asia on Friday, having suffered its biggest decline in more than two years against a basket of major currencies after a European debt deal sparked a massive relief rally in risk assets.

* The local benchmark share index gained more than 3.5 percent in early trades on Friday.

* Euro zone leaders struck a last-minute deal on Thursday to contain the currency bloc's two-year-old debt crisis but are now under pressure to finalise the details of their plan to slash Greece's debt burden and strengthen their rescue fund.

Source : in.reuters.com