2024-12-06 05:17:56 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 slightly positive at 84.67, gaining 0.03rs, after the RBI kept the repo rate unchanged but reduced the CRR, indirectly boosting liquidity and benefiting the banking and financial sectors. While global challenges continue to pressure the rupee, RBI Governor Shaktikanta Das noted that India remains better positioned than its peers. Lower inflation projections and higher growth signals from the RBI provided minor support to the rupee. However, geopolitical concerns remain a headwind. Markets now await key US economic data, including Non-Farm Payrolls and Unemployment figures, which will be critical for the Fed's interest rate trajectory and could impact the dollar and rupee movements. Immediate rupee range remains 84.50-84.85."
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