Quote on Rupee : Rupee traded weak near 81.89 down 0.10rs Says Jateen Trivedi, LKP Securities
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Below is Quote on Rupee 02 May 2023 By Jateen Trivedi, VP Research Analyst at LKP Securities
Rupee traded weak near 81.89 down 0.10rs. After touching a high of 81.74 prices drifted lower towards 81.95 on back of strength from dollar 101.70$ to 102.05$. Crude prices were trading in range giving less support to rupee, and some profit booking in financial sectors in domestic capital markets kept rupee weak. Broadly though FII's have recently been buying in Indian markets, hence support will be seen in rupee at levels 82.10-82.25. Fed's policy and statement will drive the trend in rupee further. Until the interest rate policy rolls off on Wednesday 23.30pm IST its expected rupee can be seen in range 81.75-82.10.
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