Rupee may remain stable

Sufficient liquidity with banks and positive economic indicators may help the rupee remain stable against the dollar next week, analysts said on Saturday.

They said that the increase in foreign exchange reserves level of the banking system helped ease the demand pressure for the dollar for import payments.

Further, the economic indicators are showing growth and reduction in fiscal deficit. These signs also helped the rupee improve its levels, the analysts said.

During the week (May 2-6), the rupee gained around eight paisas against the greenback, as the interbank foreign exchange market started the week with the high dollar value of 104.77.