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Strong equity, bond inflows to strengthen rupee

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By Rohit Vaid New Delhi, Oct 17 : Strong foreign fund inflows for domestic equity as well as bond markets are expected to strengthen the Indian rupee in the short run.
“Rupee has been in a tight range lately. In the previous week, the RBI bought US dollars worth approximately $6 billon to stem the rupee’s appreciation,” Sajal Gupta, Head, Forex and Rates, Edelweiss Securities, told IANS.
“It is a matter of time that RBI’s interventions weaken to allow rupee appreciation,” he added.
Gupta expects rupee to range between 73 and 73.50 with a risk of appreciation.
However, the upcoming US elections along with likely Brexit talks and heightened lockdown measures in Europe might dampen sentiments.
“With event risks like Brexit and US elections on the horizon, volatility is going to be on the cards,” said Rahul Gupta, Head of Research-Currency, at Emkay Global Financial Services.

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