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Rupee seen up on better risk appetite

Source : REUTERS
Last Updated: Wed, Mar 14, 2012 03:06 hrs
An employee uses an electronic machine to check an Indian currency note inside a bank in Allahabad

The rupee is expected to start higher on Wednesday in anticipation of capital inflows as global risk sentiment improves.

The rupee should open around 49.90 to the dollar and move between 49.85 and 50.00, compared with Tuesday's close of 49.93/94, traders said.

Investor risk tolerance has improved following strong retail sales data from the United States, better economic outlook predicted by the U.S. Federal Reserve and a sharp jump in Germany's ZEW economic think tank's monthly sentiment survey for March.

At 0230 GMT, the MSCI index of Asian stocks ex-Japan was up nearly 1 percent, while the Nifty India stock futures index in Singapore was up 1.4 percent.


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