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Below the Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

"The rupee traded weaker by 0.01 rupees, closing at 84.40, as FIIs continued their selling spree in the Indian market. However, the rupee received some relief from falling crude and gold prices, as the reduced pace of decline could potentially improve India's import bill in the coming months. Despite this, the dollar index's continued strength above 105 is expected to maintain pressure on the rupee, limiting any significant recovery in the near term. With resistance near 84.25-84.30 zone and support seen lower at 84.55. This week's focus will be on the US CPI data release, which could influence the dollar's trajectory. Additionally, Chairperson Powell's upcoming speech is expected to provide insights that may drive price action in the dollar, currently trading at a four-month high of 105.75$"

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