2024-08-28 05:19:40 pm | Source: LKP securities Ltd
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 weakened by 0.04 rupees, closing at 83.96, despite a drop in WTI crude prices from $77 to $74.60. The dollar's rise from $100.40 to $100.80 added pressure on the rupee. Market expectations have already factored in a 0.25 bps rate cut by the Fed, suggesting further rupee support may require signals of a more aggressive cut. With limited positive catalysts, the rupee is expected to trade in a range between 83.75 and 84.10, as market focus remains on the Fed’s upcoming decisions."
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