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 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."
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Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securi...
