Bank of America expects the Indian rupee to strengthen further by the end of March, after a trade agreement with the U.S. led to its sharpest gain in over seven years on Tuesday, the bank's top treasury official in India told Reuters. "We are expecting the rupee to strengthen to around 88.60-89.00 against the U.S. dollar, 2% below the bank's previous forecast for the pair," said Vikas Jain, head of India fixed income, currencies and commodities trading at the bank in an interview on Tuesday.