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 slightly weaker by 27 paise to settle at 85.33 against the US dollar, as weakness in the secondary capital markets suggested possible FII selling. Recent foreign inflow trends have been mixed, adding to the cautious sentiment. The dollar index also strengthened above the 99.25 mark, exerting additional pressure on the rupee. With key US data releases lined up this week including the FOMC meeting minutes, Q1 GDP, and Core PCE Price Index volatility in USDINR is expected to remain high. The rupee is likely to trade within a range of 84.50 to 85.25 in the coming sessions."
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