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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 by 0.04rs to 83.95, pressured by a rise in the dollar, which increased from 102.78$ to 103.07$. The yen fell to 147.40$ from 144.50$ following a statement from the Bank of Japan indicating that rate hikes are not being considered until market stability is achieved. Additionally, the rise in crude prices contributed to the pressure on the rupee. However, positive capital markets provided some support. The rupee is expected to continue showing range weakness, fluctuating between 83.75 and 84.30."
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