Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
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Below the Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"The rupee traded higher by 0.03rs at 84.03 as the dollar index remained slightly weak below 103.10$, while Indian markets stayed flat with minor support from the financial sector, especially banks. Although FII activity remains subdued, strong DII participation has helped maintain stable fund flows into the market. The rupee also received support from a sharp drop in crude oil prices, which fell to $70 from $76 in the last two days. Immediate support for the rupee is seen near the 84.05-84.15 level. However, if crude prices rebound above $72, further rupee weakness below 84.15 could be expected."
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