Karvy Forex Research has come out with a research report on currencies. The broking firm expects rupee to appreciate against dollar.
The report says, "The Asian equity market opened on positive note. Asian economy gathering growth momentum as companies declared positive corporate profit and expectation global economy recovery. Moreover, yen dropped against Euro and Dollar as it taking cues from global economy recovery seen in European and US market.
Sensex is likely to follow the league, expecting firm opening and increase in capital inflow into the market. Moreover, the dollar index gauge of major six currencies shedding against Euro and Sterling.
Investor should keep watch on dollar index movement as it would be cues for the rupee movement. Day ahead, we are expecting rupee to appreciating against dollar."