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.
ADS BY GOOGLE
video of the day
Like Bank Nifty; mkt has strong support at 7700: PhillipCap