Rupee may strengthen further

The rupee is expected to continue upward movement against the dollar next week due to improvement in the macroeconomic fundamentals, currency analysts said on Saturday.
“The rupee-dollar parity seems to hover around 101.45 and 101.50,” an analyst said.
The rupee appreciated by 33 paisas against the greenback during the outgoing week and closed at 101.85 on Monday and 101.52 against the greenback on Friday.
“The bullish rupee is a reflection of improvement in the country’s fundamentals such as declining inflation, shrinking current account deficit and robust growth in workers’ remittances,” the analysts said.