days to Friday.
Another positive rub-off will be the less than expected jobs data from the US, as it is expected that the Fed will hold more signals to go ahead with its tapering, which is scheduled to begin from November.
Forex experts feel the RBI move to allow a special window to swap FCNR dollar funds could fetch around USD 10 billion.
"The move (FCNR-B) should fetch USD 8-10 billion. It would also help in shifting rupee risks away from NRIs at a time of extreme volatility," Bank of America Merrill Lynch said in a note.
RBI on Friday also allowed non-resident investors to purchase shares of listed domestic companies through stock exchanges under the foreign direct investment route.
"The step will boost the sentiments. The rupee needs to appreciate this week also," Dhanlaxmi Bank treasurer Srinivasa Raghavan said.
He sees the rupee rising to 64 as of Tuesday, which will be the first trading day as banks would be shut on Monday on account of Ganesh Chaturthi.
Some dealers attribute the possible rupee gain next week to higher dollar selling by exporters in anticipation of further rise in the local currency.
"Technical charts are showing that the last week's momentum will continue this week also. Participants who are having long positions will square off their positions," said Ashok Mittal, co-head at Emkay Global Financial Services.
The RBI on Friday also more than trebled the currency swap arrangement with Japan to USD 50 billion from USD 15 billion.
"The bi-lateral currency-swap arrangement with Japan has been increased and this will increase the RBI's ability to intervene in the forex market whenever required," said a dealer with a private-sector bank.
Analysts, however, feel the demand from importers tomorrow, after three days of holidays, could put some pressure on the local currency.
Market participants will wait for the trade data due this week for further direction.