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Quote on Rupee : The rupee traded in range between 81.95-82.08 zone Says Jateen Trivedi, LKP Securities
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Below is Quote on Rupee 10 May 2023 By Jateen Trivedi, VP Research Analyst at LKP Securities
The rupee traded in range between 81.95-82.08 zone while the dollar index remained muted between $101.30 - $101.50 high. Forex participants are largely waiting for the CPI data in the US and the Karnataka exit poll results. The dollar index muted trend may see an uplift from today's evening data on CPI as any higher Core CPI from the expected 5.6% will create buying in the dollar, as another rate hike possibility will increase. Whereas a drop in number will strongly be cheered as interest rate pause will likely be on cards on lower CPI data. Rupee can be seen breaking the range of 81.80-82.15 in the next session.
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