Tirthankar Patnaik of Mizuho Bank said, "We expect some of the recent weakness on the dollar against global currencies and sustained capital inflows to continue supporting the rupee in the near term, which should range between 66.25-66.75/dollar."He further added, "Domestic liquidity conditions and bond market cues remain supportive, helped by periodic OMOs by the RBI including one of Rs 100 billion today, which could see the 10-year head to the 7-7.1 percent band and likely lower before the FCNR redemptions in October."
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