Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

2025-01-23 04:45:30 pm | Source: LKP Securities Ltd

Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

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Below the Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

"The rupee traded lower by 0.09 paise at 86.43, reflecting a minor pullback as the dollar index ticked higher, crossing 108.05. The rupee continues to face pressure, with the recent decline attributed to sustained FII outflows in the past few months. The upcoming Union Budget will play a crucial role in shaping market sentiment and the rupee's trajectory, as expectations are high for policy reforms or favorable measures aimed at rekindling foreign investments.

A growth-oriented budget with a clear focus on enhancing the ease of doing business and making India a hotspot for foreign investment could provide much-needed support to the rupee. Without such measures, the downward trend may persist. For now, the rupee is expected to trade within a range of 86.25–86.65, with global cues and budget expectations driving sentiment."

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Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

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