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 weakened by 0.05rs, closing at 84.06, as the dollar index remained flat around 103.35$. FII selling was the primary driver of the rupee's decline, with outflows amounting to 3436 crores yesterday and expectations of further selling today. This sustained outflow pressure continues to drag the rupee lower. Although crude weakness provides some support, the heavy fund outflows are expected to push the rupee further down towards the 84.15-84.25 range in the coming days."
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