Mumbai, Nov 17: The rupee is expected to strengthen on Tuesday in line with other regional currencies and on gains in some Asian stocks. The dollar’s drop against other major units overnight will also support sentiment.
* The U.S. dollar was stuck near 15-month troughs on Tuesday on a growing view that U.S. rates are likely to stay low for a while, giving a boost to dollar funded carry trades.
* Most emerging market currencies were stronger against the dollar.
* The partially convertible rupee hit an early high of 46.0 per dollar on Monday, its strongest since Oct. 20, and ended at 46.20/21, 0.2 percent stronger than Friday’s close of 46.31/32.
* Dealers said they would be monitoring the domestic sharemarket open for direction later in the session.
* At 0255 GMT, the MSCI index of Asian stocks ex-Japan was down 0.1 percent while the Nifty India stock futures traded in Singapore were up 0.5 percent, suggesting a flat to higher start to the local sharemarket.
–Agencies