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 traded weak at 84.36, registering a decline of 0.04 rupees. The dollar index remained stable near 104.50, maintaining its strength as investors positioned themselves ahead of the key Federal Reserve meeting. Meanwhile, Foreign Institutional Investors (FIIs) have maintained a net selling stance in Indian markets, further weighing on the rupee's value. All eyes are on the outcome of the Federal Reserve's meeting tonight, as markets anticipate a second consecutive rate cut of 25 basis points, aligning with the previously indicated trajectory. The statement accompanying the Fed's decision will hold significant importance, with potential implications for currency movements and global financial markets."
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