Rupee up on Firm Euro, Positive Local Shares

The rupee rose on Tuesday breaking a six-day losing streak and clawed back from the 14-month low touched in the previous session comforted by a firm euro and gains in domestic equities.

* At 9:26 a.m., the partially convertible rupee was at 47.08/09 per dollar, stronger from Monday's close of 47.22/23 when it had hit 47.23, a level not seen since July 22, 2010.

* The euro held firm on Tuesday after a choppy session overnight saw a wave of short-covering lift it by more than two cents on hopes that China will bolster Italy by buying its bonds, but traders found few reasons to stay upbeat about the currency.

* The euro was at $1.3683, surging from an overnight low of around $1.3495, after the Financial Times reported that Italy had asked China to make significant purchases of Italian debt. It was at $1.3623 when rupee trade closed on Monday.

* The local benchmark share index was up nearly 1 percent tracking Asian peers.