Market Rupee Quote 07 June 2022 By Jateen Trivedi, LKP Securities
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Below is the daily Rupee quote 07 June 2022 By Jateen Trivedi, VP Research Analyst at LKP Securities
"Rupee traded weak by 0.13 points as it tries to price in the RBI's interest rate hike probability tomorrow which is expected around 0.40 to 0.50bps according to consensus. The dollar index has also played a major part in the recent weakness witnessed in the rupee's fall from 77.50 to 77.75 above in the past three trading sessions. Crude price has also been riding north above $120 making the rupee being hit being an importer of the Oil. Rupee will be seen testing 78.00 mark in coming days as any level sustainability above 77.75 shall bring in more short covering into the USDINR futures pair which has been trading in a broad range of 77.50-77.95 from last month or so"
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
