The rupee should climb

The rupee should climb for the second day on Wednesday, supported by firmer Asian stocks and a stronger euro.

* At 0225 GMT, the MSCI index of Asian shares ex-Japan was up 0.8 percent and the Nifty India stock futures traded in Singapore were up 0.65 percent, indicating a positive opening for local stocks.

* The euro rose to its highest level in nearly three months, extending gains on the back of rising investor risk appetite. The euro rose to $1.3853, its highest level since early November.

* However, concerns over subdued dollar inflows and sustainability of gains in local stocks along with oil importers' dollar demand could keep a lid on the rupee's rise.

* The dollar index, a measure of the greenback's performance against six major currencies, was down 0.06 percent at 77.017 points.

* The partially convertible rupee ended stronger at 45.755/765 per dollar on Tuesday from 45.90/91 on Monday when it had fallen during trade to 46.01, its lowest since Nov. 30.

* Foreign funds were net sellers of $1.4 billion worth of shares in January. Last year, investments had reached a record $29.3 billion.

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