Quote on Rupee : The Rupee has been range-bound between 81.70 and 81.82 Says Jateen Trivedi, LKP Securities
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Below is Quote on Rupee 08 May 2023 By Jateen Trivedi, VP Research Analyst at LKP Securities
The Rupee has been range-bound between 81.70 and 81.82 despite mixed data. The dollar index has stayed muted within the range of 100.85-101.00. Forex participants are keeping an eye on the US CPI data that is expected on Wednesday, with a forecast rate of 5.00%. Any data lower than this could guide the dollar lower than 100.75. The recovery of crude prices has put pressure near the 81.70 level. However, FIIs buying has helped the rupee to remain above the 81.85 level. Rupee range till then can be seen between 81.60-81.95.
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