|Chennai||Rs. 24470.00 (1.37%)|
|Mumbai||Rs. 24900.00 (0.97%)|
|Delhi||Rs. 24200.00 (1.26%)|
|Kolkata||Rs. 24160.00 (0%)|
|Kerala||Rs. 24000.00 (0.63%)|
|Bangalore||Rs. 23800.00 (0%)|
|Hyderabad||Rs. 24140.00 (1.17%)|
The rupee may see sharp appreciation on the back of measures taken by the central bank and the government as the decline was largely driven by "fear trade", analysts at Credit Suisse said in a note on Friday.
The bank says the rupee can reach 57-58 levels though the RBI may try to stem the volatility by starting to build reserves at 60.
The resumption of foreign capital inflows could also lead to a significant balance of payment surplus and help the rupee, the investment bank said.