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 weakened by 0.04, trading at 84.10, as the dollar index strengthened and FII selling intensified at the start of November, ahead of the US election. FIIs appear to be reducing their exposure to Indian markets, awaiting the outcome of the election, which has led to index-level corrections. The rupee is expected to remain volatile, with the US election results due on the evening of November 6, adding potential market uncertainty. Resistance is near 83.95-83.90 with support located in 84.15-84.20 range."
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