Quote on Rupee : The Rupee witnessed a fall against the US dollar, declining from 82.35 to 82.65 Says Jateen Trivedi, LKP Securities
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Below is Quote on Rupee 18 May 2023 By Jateen Trivedi, VP Research Analyst at LKP Securities
The Rupee witnessed a fall against the US dollar, declining from 82.35 to 82.65. This depreciation can be attributed to several factors. Firstly, the US dollar has been on the rise, approaching 102.75$ and inching closer to the 103-dollar mark. Additionally, WTI crude oil prices have experienced an increase in the last two days, rising from 70.50$ to 72.50$. The weakness in capital markets has also contributed to the rupee's decline, with some profit booking observed from higher levels. The rupee's trading range is currently expected to be between 82.35 and 82.75. These factors collectively indicate a fall in the rupee to continue.
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