Rupee likely to gain on inflows

The rupee may make gains in coming week owing to expected inflows and ease in international commodity prices. However, the exit of UK from European Union may have negative impact on the local unit.

Experts said that though Brexit impact was not severe on local currency but change in values of tradable currency may pressurise the rupee.  The experts said that the local currency would make gains on the upcoming inflows as announced by the Finance Minister on the other day that one billion dollars were expected from IFIs. With this addition the foreign exchange reserves level of the country will reach to a new historic level. During the outgoing week (June 20 – 24) the rupee was remained stable starting at 104.76 and closed at 104.80.