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 remained in a narrow range near 83.76, showing a minor decline of 0.02rs. The dollar weakened, falling below 103$ from a previous level of 104.20$. Capital markets were under pressure, with the Nifty index down by more than -1.15%, contributing to fund outflow pressure on the rupee. The upcoming Non-Farm Payroll and unemployment data in the US will likely maintain high volatility in the market, which is already experiencing fluctuations due to concerns about a potential US recession and tensions in the Middle East. The rupee is expected to trade within the range of 83.55-83.85."
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