Powered by: Motilal Oswal
2025-04-21 05:51:56 pm | Source: LKP securities Ltd
Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

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

"Rupee traded very strong with gains of 0.30rs at 85.05, backed by continued weakness in the dollar, which fell to 98.00, and Crude prices slipping below $62.50, providing dual support to the local currency. The rupee has now approached its key psychological level of 85.00, with positive sentiment driven by concerns over the US economy’s slowdown amid ongoing tariff-related tensions, prompting dollar selling globally.

If the rupee sustains below 85.25 in the coming sessions, there's a strong possibility of it testing the next resistance near 84.50, as the current momentum and favorable macros favor further appreciation.

Rupee range is expected between 84.75–85.45 in the near term, with global cues and dollar trajectory continuing to steer direction.

 

Above views are of the author and not of the website kindly read disclaimer

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here