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 positive at 85.25 with gains of 0.16rs, as the dollar index retreated from the key resistance near 100$, slipping back towards 99.30$. This pullback in the dollar helped ease pressure on the rupee, allowing it to regain strength after yesterday’s weakness.
The move also reflects some relief in global sentiment, with dollar buyers turning cautious ahead of key macroeconomic data from the US. The rupee found support from dollar weakness and improved sentiment in domestic equities, keeping its range-bound bias intact.
Rupee is expected to trade in a range of 84.90–85.60, with directional cues coming from US data and global risk sentiment"
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