2025-02-03 05:01:26 pm | Source: LKP securities Ltd
Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
"Rupee weakened further, breaching 87.18, down by 0.57rs or 0.67%, as Trump's aggressive tariff policies triggered a stronger dollar rally. The U.S. administration imposed a 25% tariff on Canada and Mexico and a 10% tariff on China, with additional threats of higher duties on the Eurozone. A direct warning to BRICS nations against de-dollarization has escalated trade tensions, with Trump signaling 100% tariffs on BRICS if they push for alternatives to the dollar.
The Dollar Index surged to 109.39, reflecting strong risk aversion and capital flight towards the U.S., leading to a sharp decline in the rupee. The next key support is at 87.45, while any short-term recovery may face resistance near 86.80. The rupee’s trajectory will remain highly sensitive to further U.S. policy announcements and global trade developments.."
The Dollar Index surged to 109.39, reflecting strong risk aversion and capital flight towards the U.S., leading to a sharp decline in the rupee. The next key support is at 87.45, while any short-term recovery may face resistance near 86.80. The rupee’s trajectory will remain highly sensitive to further U.S. policy announcements and global trade developments.."
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