The rupee is expected to stay in the range of 104.65/75 against the dollar during the next week due to adequate dollar inflows to meet the market demand, analysts said.

“The Hajj related dollar buying could put some pressure on the exchange rate, but such outflows are largely covered,” said a currency analyst.

By and large, the rupee traded at 104.72 to the greenback at the interbank market during outgoing week.

However, the rupee is likely to face pressure in coming months by a large current account deficit of $584 million in July 2016 caused by low remittances and falling exports.

 

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