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The Economic Times
The Economic Times
Business
Anupam Nagar

Rupee may gain ground as crude prices ease and FCNR inflows rise, says Navneet Damani

Navneet Damani FCNR Oil India

Lower oil prices and fresh incentives for NRI deposits could help reverse pressure on the Indian currency in the coming weeks.

The Indian rupee could be headed for a phase of appreciation after months of pressure, supported by a sharp decline in crude oil prices and expectations of significant foreign currency inflows through FCNR(B) deposits, according to Navneet Damani from MOFSL.

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