MUMBAI: The rupee may ease on Monday as falls in US and Asian stock markets are expected to see the local share market open weaker, raising concerns that foreigners may withdraw some of their investments.
The partially convertible rupee ended at 39.34/35 per dollar on Friday, stronger than Thursday's close of 39.39/40.
Asian stocks slumped on Monday and the dollar was pinned near a six-week low after a weak US jobs report heightened fears of a recession in the United States.
Capital inflows into the stock market were a key driver of the rupee's rise of more than 12 percent last year. Foreign funds bought $17.4 billion of India equities in 2007, a record for a single year.
The partially convertible rupee ended at 39.34/35 per dollar on Friday, stronger than Thursday's close of 39.39/40.
Asian stocks slumped on Monday and the dollar was pinned near a six-week low after a weak US jobs report heightened fears of a recession in the United States.
Capital inflows into the stock market were a key driver of the rupee's rise of more than 12 percent last year. Foreign funds bought $17.4 billion of India equities in 2007, a record for a single year.
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