FII inflows to remain a booster
OUTLOOK/ Currency
| The rupee could appreciate to 44.80 levels if the state run banks remain on the sidelines, said a dealer with a private sector bank. |
| Public sector banks, which act on behalf of the RBI, are expected to cap the rupee gains at 45 levels. |
| The market undertone is rupee bullish hence exporters are braced to bring back their receivables which would also add to the firmness in the rupee-dollar rate. |
| Recap: The dollar testing fresh depths against the euro last. It feel against the rupee too. The rupee appreciated 0.12 per cent. It had closed slightly weaker on Friday at 45.0950/1050 per dollar, marginally lower than Thursday's 45.0750/0850. |
| The RBI is ensuring that the rupee's appreciation is slow and gradual. The six-month forward dollar premium during the week fell to 1.76, a drop of 48 basis points over the previous week. |