Rupee Up On Euro's Rise, Local Shares.

MUMBAI: The Indian rupee rose on Wednesday in tandem with sharp gains in euro, Asian currencies and a positive local stock market.

* At 9:16 a.m., the partially convertible rupee was at 44.98/99 per dollar, stronger from Tuesday's close of 45.03/04.

* The euro clung to overnight gains early in Asia amid hopes the Greek parliament will agree to an austerity package of tax hikes and spending cuts in order to secure emergency loans from international lenders.

* A parliamentary ballot on the framework austerity package is expected on Wednesday, with lawmakers then due to vote on Thursday on a bill containing specific steps to implement it.

* The euro was at $1.4352 versus $1.4242 at end of local forex trade on Tuesday, while the index of the dollar

against six major currencies was up 0.02 percent at 75.074 points.

* For a snapshot of Asian currencies, see: * The benchmark local share index was up 0.6 percent in early trade on Wednesday. The index has rallied more than 5 percent over past four sessions.

Source : economictimes.indiatimes.com