MUMBAI (Reuters) - The Indian rupee is expected to open higher on Wednesday on optimism Greece will soon agree to a bailout deal it needs to avoid a disorderly default.
* A Greek official's statement suggested the Greek government has completed negotiations with lenders on its 130 billion-euro rescue package, although agreeing to the painful austerity measures that come with the bailout could be a challenge.
* The euro held near a two-month peak in Asia on Wednesday, as hopes that Greece was nearer a debt deal sparked a broad short-covering rally and a pick up in risk sentiment.
* Traders said the rupee would open around 48.90 to the dollar and move in a band of 48.60 to 49.20. It closed at 49.19/20 on Tuesday.
* At 0226 GMT, the MSCI index of Asian stocks ex-Japan was up 0.56 percent, while the Nifty India stock futures in Singapore were 0.33 percent higher, indicating a positive opening for local stocks.
Source : moneycontrol.com