Rupee is seen higher on Thursday,22nd jan. on gains in some Asian stock markets and the dollar's losses against some Asian currencies, but caution
ahead of a central bank policy review next week may cap the rise.
The partially convertible rupeeclosed at 49.11/13 per dollar on Wednesday, 0.2 per cent stronger than Tuesday's close of 49.20/22.
Foreign fund flows have been a key factor determining the rupee's fortunes in recent years. Foreigners have already sold about $660 million worth of local shares in 2009, after having dumped more than $13 billion last year.
One-month offshore non-deliverable forward contracts were at 49.10/20, largely in line with the local onshore closing rate.
Asia stocks clung to small gains on Thursday, with investors reassured after bank shares fuelled a Wall Street rally, but with global economic gloom still pervasive, safe-haven trades such as the yen and US Treasuries also rose.
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