March 14, 2012 / 2:52 AM / in 6 years

Rupee seen up on better risk appetite

MUMBAI (Reuters) - The rupee is expected to start higher on Wednesday in anticipation of capital inflows as global risk sentiment improves.

An employee uses an electronic machine to check a currency note inside a bank in Allahabad December 16, 2011. REUTERS/Jitendra Prakash/Files

* The rupee should open around 49.90 to the dollar and move between 49.85 and 50.00, compared with Tuesday’s close of 49.93/94, traders said.

* Investor risk tolerance has improved following strong retail sales data from the United States, better economic outlook predicted by the U.S. Federal Reserve and a sharp jump in Germany’s ZEW economic think tank’s monthly sentiment survey for March.

* At 0230 GMT, the MSCI index of Asian stocks ex-Japan was up nearly 1 percent, while the Nifty India stock futures index in Singapore was up 1.4 percent.

Reporting by Aditya Phatak; Editing by Ranjit Gangadharan

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