Strong capital inflows to further strengthen Indian rupee in the week ahead: Analysts
Persistent foreign fund inflows on the back of bullish global cues will strengthen the rupee during the upcoming week, according to analysts.Besides, lesser intervention from the Reserve Bank of India is expected after it was called out by the US Treasury Department to curtail its market activities."RBI intervention is keeping the rupee stable, as it feels prudent to insulate rupee from the strong capital inflows. US Fed putting India on watch list is expected to reduce pace of intervention going forward. Expect rupee to trade between 73.20 to 73.60 with appreciative rupee bias," said Sajal Gupta, Head, Forex and Rates, Edelweiss Securities.Lately, healthy FIIs inflows have powered a rally in equities and gave an appreciation push to the rupee. The FIIs were net buyers last week, investing...