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 volatile with a strong gap-up opening at 83.75, but later faced resistance as profit booking emerged following last week's robust rally of over 1.50%. The rupee's sharp rise has prompted short-term traders to lock in gains, leading to intraday weakness.
Looking ahead, movement in the dollar index, progress or uncertainty in trade tariff negotiations, and ongoing geopolitical tensions near India’s borders are expected to keep the rupee on a choppy path.
The rupee is likely to trade within a broad range of 83.50–84.50, reflecting the underlying volatility and cautious sentiment in the market."
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