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 remained flat near 84.07, as dollar strength and continued weakness in the Indian capital markets exerted pressure. A significant sell-off was observed in the Indian markets due to ongoing fund outflows and reduced liquidity, driven by the global shift in the interest rate cycle, while the RBI maintains its current stance of not reversing rates. With strong fund outflows persisting, pressure may mount on the RBI to reconsider its stance on interest rates. Rupee support is near 84.15, with major resistance around 83.90."
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