Rupee may remain range-bound

The rupee is expected to remain range-bound next week, despite robust foreign inflows and positive economic outlook, analysts said.  

The rupee is expected to trade within the narrow-band of 104.60 and 104.65 against the dollar.  “There are some positive triggers, but the forex market seems to move sideways,” said an analyst. The rupee traded flat during the outgoing week, quoting at 104.55 against the dollar. However, it went under pressure and closed at 104.68 on Friday as importers bought dollars in sight of two off days on account of Youm-e-Ashura—the 9th and 10th Muhrram.