Re to drift upward, be largely stable
The spot rupee is likely to strengthen this week due to good dollar inflows from non-resident Indians and foreign institutional investors. The currency is already ruling at a five-month high. The expected band for the rupee this week is 48.60-48.70 per dollar.
Dealers said dollar inflows from exporters will continue, but may not be as high as over the past couple of weeks.
India Inc has brought most of its dollar holdings from abroad. Big corporates have brought in 75-80 per cent of their future dollar receivables.
The demand for dollar from importers
