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 closed at 84.38, marking another record low as it continues to feel the impact of persistent selling by FIIs, extending the sell-off trend from October. The Federal Reserve's policy outcome was in line with expectations, delivering a 0.25% rate cut and reinforcing its commitment to targeting 2% inflation. The Fed's acknowledgment of an anticipated rate cut in December kept markets attentive but did not provide any surprising elements. The rupee remains under pressure, with immediate support seen in the 84.45-84.50 range and resistance positioned at 84.10-84.20."
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