Companies that have raised capital abroad will bring in the entire residual lot before March 31 is out. Foreign banks, multinationals, among others, who want to capitalise usually bring in their capital before March 31 so that it gets accounted in the year ending March 31.
Rupee has risen to its highest level in eight months at 60.13/dollar, thanks to strong capital inflows. CNBC-TV18's Latha Venkatesh believes this will continue and March is normally a good month for the Indian currency.
Companies that have raised capital abroad will bring in the entire residual lot before March 31. Foreign banks, multinationals, among others, who want to capitalise usually bring in their capital before March 31 so that it gets accounted in the year ending March 31.
Also Read: Rupee to trade between 59.90-60.30/USD: Mohan Shenoi
So this is a common phenomenon and we have seen probably more than usual flows this March. This has been aided by Foreign Institutional Investor (FII) flows also - that is portfolio flows – which has been pretty strong. But the capital flows from companies will thin after April 1. So while the rupee will continue to be strong, the dollar is unlikely to get cheaper than 60/USD.
For the day itself the dollar would start a little more expensive at around 60.20-60.25/USD levels as opposed to 60.13/USD where it closed and that is largely because the dollar has had slightly strong sessions across all currencies - a little bit of a risk off in the global environment and people shifting to safe haven currencies like dollar and yen. So probably the rupee will start a little bit on the back foot but unlikely to be too much of a pressure up until March 31.
Anda sedang membaca artikel tentang
Capital flows to continue, rupee won't rise above 60/$
Dengan url
https://segarsaries.blogspot.com/2014/03/capital-flows-to-continue-rupee-wont.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Capital flows to continue, rupee won't rise above 60/$
namun jangan lupa untuk meletakkan link
Capital flows to continue, rupee won't rise above 60/$
sebagai sumbernya
0 komentar:
Posting Komentar