New Delhi, Aug. 19 -- The rupee is expected to remain broadly stable at around 95 per US dollar over the next 1-2 months and consolidate gradually towards 97 per dollar by March 2027, following the Reserve Bank of India's early closure of the special Foreign Currency Non-Resident (Bank) [FCNR(B)] deposit window, according to a report by Ashika Institutional Equities.

Indian rupee edged up on Wednesday despite higher oil prices on the back of RBI intervention, FII inflows and weaker dollar index. It opened at 95.71 and was trading at 95.75/US dollar at the time of reporting.

The RBI has advanced the closure of its special forex swap facility for Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits to August 31, 2026, with banks having...