As European countries were expected to come to the aid of debt-burdened Greece, the Euro frame elevated against the dollar on Thursday. An agreement is expected to be concluded in the meeting of the European Union's 27 leaders, along with economic advisers, the head of the European Central Bank and other officials. This meeting to be held in Brussels is on the issue of helping Greece.

Stuart Bennett, Currency Analyst at Credit Agricole CIB said, "Perhaps the cheapest and easiest option may be to provide a credit line for Greece. Such insurance may be enough to calm the market's misplaced worries about default risks and provide a few months for Greece to push ahead with fiscal changes and convince the market that it will be able to reduce its budget deficit."

From the setting of an aid-package, Euro has firmer ground after the concerns over how Athens will service its debt have knocked the Euro in recent weeks. From late U. S. trading on Wednesday, the euro rose 0.3 percent to $1.3772 by 0844 GMT. After drooping to a one-year low of 120.70 yen last week the single European currency rose 0.3% to 123.86 yen.