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Rupee may be under pressure next week

Written by: Staff

Mumbai, Mar 26 (UNI) Rupee ended weaker by 16 paise at 44.65/66 per US Dollar, as compared to last week's close at 44.49/50.

Rupee took a hit of around 10 paise on Friday as the news trickled in and next week rupee may see further correction on this note.

In the international markets US dollar bounced back on Friday as encouraging US economic data on new home sales indicated towards a turnaround in US economy.

The crude oil prices also has been on the rise touching a high of USD 63-64 per barrel which will to add pressure on the rupee.

But Rupee will be boosted by the Foreign Exchange Reserves (Forex) going up for the ninth week in a row by US dollar 2.238 billion to record USD 146.159 billion for the week ended on March 17.

However, a slowdown in the foreign fund inflow from the Foreign Institutional Investors (FIIs) will put pressure on the rupee.

The inflow of fund seemed to be slowing down for the second week in row at Rs 686.80 crore during the last four trading days of the week.

On Thursday the net inflow dipped to Rs 56.30 crore only, which will have a negative impact on the markets when it opens on Monday.


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