Stronger global risk appetite and a surge in the euro to above 1.31/$ will help the rupee appreciate further, says N.S. Venkatesh of IDBI Bank. He adds that he expects the rupee to strengthen to 54/$ in the near term and move up further towards 51-52/$ by fiscal year-end. He however adds that a wide current account deficit is not allowing the rupee to appreciate in line with strong fund flows into the Indian economy.
