Quote on Rupee 05th Aug 2025 by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Rupee 05th Aug 2025 by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Rupee traded weak at 87.80 as panic gripped markets following a late-evening post by the US President hinting at higher tariffs on India. Additionally, expectations that the US may pressure India to reduce Russian oil imports sparked fears of a higher import bill, pushing the rupee briefly below the 88.00 mark overnight. Some recovery was seen after the Ministry of External Affairs clarified India’s stance on crude purchases. However, the ongoing friction between the US and India on trade and energy is likely to keep the rupee volatile and under pressure. The rupee is expected to trade in the 87.40–88.25 range."
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