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
"The rupee initially traded strong at the opening, gaining 0.20 paise to reach 86.29 on the back of a weaker dollar overnight. The dollar softened following former President Trump's oath ceremony, which introduced tariffs on imports along the Mexican and Canadian borders, creating short-term market uncertainty. However, this initial optimism quickly reversed as market participants opted for USDINR buying throughout the session. The rupee saw significant intraday weakness, slipping from 86.29 to close near 86.58, marking a sharp fall of over 0.25% after opening. The range for the rupee remains volatile, with broader resistance at 86.20 and support at 86.75."
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