Rupee seeks direction
Geo-political tensions raise level of uncertainty and may cap the domestic currency’s strength
The rupee was volatile in a narrow range between 63.85 and 64.17 in the past week. The currency failed to sustain above 64 as the increasing geo-political tension is making the market nervous. The rupee reversed lower from the week’s high of 63.85 and fell below 64 again. It touched a low of 64.17 and recovered slightly from there to close at 64.05 on Monday.The weak growth numbers for the fi...
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