Indian rupee gains early, but wary on Greece

MUMBAI: The Indian rupee opened stronger on Tuesday in anticipation of dollar inflows, but concerns that Greece may fail to meet conditions to get its next bailout kept traders wary.

At 9 a.m. (0330 GMT), the rupee opened at 48.92 to the dollar. It closed at 49.05/06 on Monday, ending a four-day winning streak, after touching 48.60, its strongest since Sept. 21.

Failure to secure the 130 billion euro ($170 billion) rescue would risk pushing Athens into a chaotic debt default and destabilise the entire euro zone, an outcome deemed too extreme to contemplate.