Indian rupee opens stronger on Greece bailout hopes

MUMBAI: The Indian rupee opened 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.

At 9 a.m. (0330 GMT), the rupee opened at 49.05 to the dollar. It closed at 49.19/20 on Tuesday.