Rupee seen up on inflow hopes, RBI eyed

Enlarge Photo A money changer counts U.S. dollars in Mumbai in this May 21, 2003 file photo....

Fri, Apr 25 08:48 AM

MUMBAI (Reuters) - The rupee is expected to edge higher on Friday on expectations of renewed capital inflows into stocks, but gains may be limited ahead of a Reserve Bank of India (RBI) policy review next week.

* The partially convertible rupee ended at 40.17/18 per dollar on Thursday, its lowest since March 27, according to Reuters data. It ended at 40.05/06 on Wednesday.

* The RBI reviews monetary policy on April 29, and analysts are split whether the central bank will raise interest rates, with a slim majority of economists polled by Reuters predicting no change to interest rates.

* A bounce in the U.S. dollar lifted Asian stocks on Friday and sent bond prices tumbling, while crude oil sank further from its recent record close to $120 per barrel.

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