2025-01-13 05:17:01 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 weakened sharply by 0.60 paise, closing at 86.61, marking its lowest level amid a rapid fall of over 1% in the past week. The decline is attributed to higher crude prices, which climbed above $81 per barrel following sanctions on Russia by the Biden administration in the US. Elevated crude prices have further widened India’s import bill, adding pressure on the rupee. The trading range for the rupee is seen with support near 87.00 and resistance around 86.25, as participants keep a close eye on geopolitical developments and commodity trends."
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
Latest News
22 Indian startups raise over $184 million in fundin...
Coal India subsidiary SECL begins new coal evacuatio...
Madhya Pradesh to scout for unused airstrips in tier...
Swiggy`s valuation takes a huge 50 pc dip from its p...
Buy MedPlus Health Services Ltd for Target Rs. 874 b...
Buy Gabriel India Ltd For the Target Rs.565 by Choic...
Indian stock market consolidates amid global uncerta...
Buy Steel Strip wheels Ltd for Target Rs. 232 by ARE...
Buy Ajanta Pharma Ltd For the Target Rs.3,667 by Cho...
Buy Maruti Suzuki India Ltd For the Target Rs.13,958...
