Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Below the Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Rupee traded strong at 84.98, up by 0.25rs, supported by a sharp surge in capital markets, where major indices rose by 1.20% and banking index jumped by 1.41%. This improved domestic sentiment provided a solid cushion to the rupee even as the dollar index remained flat near 99.63$.
Focus will now shift to this week's key US economic releases, particularly the Non-Farm Payrolls (NFP) and Unemployment Rate data, which could induce volatility in global currencies.
Rupee range is expected between 84.70–85.25, with a bias towards further strengthening if risk sentiment remains supportive."
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