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Below is Quote on Rupee 25 August 2023 By Jateen Trivedi, VP Research Analyst at LKP Securities

"The rupee experienced a decline of 0.08rs as the dollar index rallied, possibly influenced by the strong performance the rupee had shown in the preceding days. The ongoing Jackson Hole Symposium, where the Federal Reserve's perspective on the overall economic outlook is anticipated, holds the potential to introduce new significant triggers to the market. The current strength of the dollar seems to be supported by the growing possibility of higher interest rates in upcoming meetings.

Looking ahead, the trading range for the rupee is projected to be within 82.50 to 82.90. If the rupee manages to breach the upper range, it could potentially move towards 82.10 to 82.00. Conversely, a downward break might push the rupee towards the 83.45 mark. These levels will likely be influenced by the outcome of the Jackson Hole Symposium and any subsequent developments in the global financial landscape."

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