However, the Euro zone ministers stressed Athens had not yet requested the plan be activated.
Together with at least 10 billion expected from the International Monetary Fund in the first year, it could add up to the biggest multilateral financial rescue ever attempted.
The New Zealand dollar was at its highest level against the US dollar in 11 weeks, building on a surge overnight on Friday.
At 5pm, the kiwi was trading at $US 71.68c, 52.39c and $A 76.73cBNZ strategist Mike Jones said market sentiment was cheered overnight on Friday by rumours a new, improved rescue package for Greece, which was struggling with debt, was being prepared.
Against that backdrop, investors shunned the safe-haven appeal of the US dollar and the yen and dived back into risk-sensitive currencies such as the New Zealand dollar, he said.
The Australian dollar opened $US 1c higher at a five-month peak as news of the bailout package was released to the markets.
Mr Jones said investors saw the package as a move designed to restore confidence in the euro.
"On the back of that, we saw the Aussie and Kiwi push higher.
We saw risk appetite head higher.
It's been a positive weekend for most currencies," he said.
The euro jumped to its highest level in nearly a month in early Asian trade yesterday.
Traders said the rescue package could drive investors to cover short positions.
The rescue package is seen as calming markets in the short-term.
The interest rate of 5% is considered a little steep for debt-strapped Greece, but better than the 7%, or above, yields it is paying for three-year debt.
Latest data from the Commodity Futures Trading Commission showed currency speculators trimmed their long bets on the US dollar in the week to April 6.
Speculators also reduced short positions against the euro, while net short positions against the Japanese yen jumped to 42,305 contracts from 30,866.
The low-yielding yen generally suffers when demand for riskier assets is robust.
Traders remained wary given uncertainty on whether China might allow a modest appreciation in the yuan in coming days.
Asian currencies, including the yen, are seen likely to gain from any move by China to revalue its currency.
China recorded its first monthly trade deficit in six years in March, although economists doubted it would stand in the way of a resumption in the yuan's rise before long, Reuters reported.
China Commerce Ministry on the weekend renewed its opposition to a stronger currency following the release of the China trade deficit for May, suggesting there was still plenty of infighting within the Chinese Government that could at least delay the timing of a yuan revaluation.
