``The shift of assets into US to take care of the cash problem there is nearly over, so the dollar buying will not be there. The dollar will be under intense pressure, the rupee would probably appreciate to around 46-46.5. Beyond that, I find it difficult to believe that the rupee would appreciate much more, unless and until you have the credit market unfreezing. In which case, we cannot see rupee all the way down to about 45 per dollar.''
Re to appreciate to 46-46.5/$: