Rupee seen up on inflows; German, US data aid
Citi will get $1.9 billion from the transaction at the current exchange rate, resulting in a pre-tax gain of $1.1 billion (Rs 5,490 crore), and an after-tax gain of approximately $722 million (Rs 3,550 crore).
The rupee is likely to rise on Friday in anticipation of capital inflows after strong German economic and U.S. labour market data improved risk appetite.
* Traders said they expect the rupee to open around 49.10 to the dollar and move between 49.05 and 49.20, with gains capped by oil payments. It closed at 49.19/20 on Thursday.
* The number of Americans filing new claims for jobless benefits last week held at the lowest level since the early days of the 2007-2009 recession, while U.S. December home prices rose 0.7 per cent.
* Across the Atlantic, the German Ifo think-tank survey of business sentiment rose to its strongest level in seven months, lifting the euro to its highest in 2-1/2 months against the U.S. dollar.
* At 07.58 IST (0228 GMT), the MSCI index of Asian stocks ex-Japan was up 0.2 per cent, while the Nifty India stock futures in Singapore were 0.1 percent higher.
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