Rupee likely to get breather from foreign inflows, say experts

The rupee has come under pressure as surging commodity prices rekindled worries about inflation and the financial health of the net oil-importing nation

A potential gush of foreign inflows on the back of a slew of large share sales is likely to bring reprieve to the Indian rupee.

The currency, which has become emerging Asia’s worst performer over the past month, may gain about 2 per cent from Wednesday’s close to 74 per dollar by the end of December, according to a Bloomberg survey. The rupee will also get a boost from foreign inflows as digital companies, including Warren Buffett-backed Paytm, plan to raise about $10 billion in initial share sales.

The rupee has come under pressure as surging commodity prices rekindled worries about inflation