2024-10-11 04:21:48 pm | Source: LKP securities Ltd
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
"The rupee traded lower by 0.12rs at 84.08, pressured by the recent rise in the dollar index from 100.50$ to 102.40$ and its steady hold. Continuous FII outflows from Indian markets have added to the rupee's weakness, signaling potential further declines. The rupee may extend its weakness towards 84.25-84.35, especially if it holds below 84.00. Support is expected in the 84.20-84.35 range, while resistance is seen between 83.70-83.80."
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