Rupee rise

After appreciating by a hefty 93 paise to a four-and-a-half-month high of 53.45 against the dollar on Friday, the rupee is likely to strengthen further this week on expectation of more reform measures coupled with rising foreign capital inflows.

Experts feel that rupee is likely to be in the range of 53-54 this week with a possibility of breaching 53 level on the back of higher capital inflows.

"The rupee is showing appreciating bias. After the reform measures announced in the multi-brand retail and aviation space, now the market believes that the government will come up with more measures to prop up the economy, which in turn will support the rupee," Geojit Comtrade currency strategist Hemal Doshi said.