Below are Views On Local equities have seen healthy inflows since the announcement of the budget By Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking
Local equities have seen healthy inflows since the announcement of the budget, which has supported the rupee at a time when U.S. yields and crude oil prices are inching higher. We believe the domestic currency has scope to rise towards 72.20 in the near term on the back of the flows and continuation of accommodative monetary policy stance of the US Fed. However, if the Brent contract inches towards $70 per barrel mark, it will begin to hurt the rupee.
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