Rupee to trade lower due to month-end demand and higher crude rate

Mumbai, Mar 19 (UNI) The rupee ended stronger by four paise during the week at 44.45/46 per USD, as compared to previous week's close at 44.49/50.

Next week the rupee may face heat from the rising month-end demand for the US dollar from importers as well as the higher global crude oil prices which were quoting in the range of USD 63-64 per barrel at the New York Mercantile Exchange(NYMEX).

Also, the foreign fund inflow was keeping pace with the outflow in the equity markets leading to very little net investment during the first three days of the week.

With only Rs 418.30 crore invested in the markets in the first three trading days, rupee may face further pressure.

But foreign exchange reserves (Forex) went up for the eighth week in a row by US dollar 773 million to USD 143.921 billion for the week ended on March 10, this will support rupee at current levels.

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