Indian rupee registered its biggest single session gains in nearly six-week against the US dollar on Monday following hefty dollar sales by RBI and exporters, while govt.’s decision to postpone their tax proposal on FII by a year further encouraged dollar selling on hope of foreign fund inflows into the Indian markets.
Finally, it settled at 52.92 per dollar, close to its session high at 52.85 per dollar and 1.1% stronger than Friday’s close of 53.48 per dollar.
Indian rupee is expected to open slightly firm to flat against the US dollar following mild recovery in Asian currencies and consolidation in other major currencies including Euro, while RBI’s intervention fear and delay in GAAR tax proposal would support INR during the day on anticipation of higher capital inflows.
Finally, it settled at 52.92 per dollar, close to its session high at 52.85 per dollar and 1.1% stronger than Friday’s close of 53.48 per dollar.
Indian rupee is expected to open slightly firm to flat against the US dollar following mild recovery in Asian currencies and consolidation in other major currencies including Euro, while RBI’s intervention fear and delay in GAAR tax proposal would support INR during the day on anticipation of higher capital inflows.
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