Rupee to Climb 2nd Day as Regional Shares Rise

The rupee should strengthen for a second day on Tuesday tracking regional sharemarkets that rose on the back of a slew of positive news across the euro zone and the United States.

* Safe-haven currencies like the Swiss franc stayed under pressure in Asia, following a solid performance in riskier assets overnight that drove commodity currencies sharply higher.

* The index of the dollar against six major currencies was down 0.1 percent at 73.655 points at 0250 GMT, and compared with 74.716 points when the domestic forex market closed on Monday.

* The MSCI index of Asian stocks ex-Japan and the Nifty India stock futures traded in Singapore were both 1.3 percent higher, suggesting a firm start to the domestic market.

* A combination of factors, including a 14 percent rally in Greek stocks sparked by merger news in the country's battered banking sector and better-than-expected U.S. consumer spending data helped fuel risk appetite.

* The partially convertible rupee ended at 46.035/045 per dollar on Monday, 0.2 percent stronger from its 46.145/155 previous close. The market will be closed on Wednesday and Thursday for local holidays.

* Some month-end dollar demand from oil refiners could limit a sharp rise in the rupee, dealers said. Traders will also watch the June quarter GDP data due around 11 a.m. (0530 GMT) for direction.