Dec 24, 2014 08:19 AM IST | Source: Reuters

Rupee seen gaining on inflows; stocks watched

The rupee is likely to open stronger on Monday as optimism from the recent aid deal for Greece, strong growth indicators from Germany and a liquidity injection expected from the European Central Bank help improve global risk appetite.

Rupee seen gaining on inflows; stocks watched

The rupee is likely to open stronger on Monday as optimism from the recent aid deal for Greece, strong growth indicators from Germany and a liquidity injection expected from the European Central Bank help improve global risk appetite.

* Traders said the rupee should open around 48.80 to the dollar and move between 48.60 and 49.20. It closed at 48.9350/9450 on Friday, strengthening 0.7 percent last week, its second straight week of gain.

* The European Central Bank will this week offer, for the second time, an unlimited volume of cheap three-year loans to European banks.

* However, the MSCI index of Asian stocks ex-Japan was down 0.44 percent at 0225 GMT and the Nifty India stock futures index in Singapore was 0.32 percent lower.

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