Below is Quote on Rupee 12 April 2023 By Jateen Trivedi, VP Research Analyst at LKP Securities
Rupee traded in a small range between 82.00 – 82.10 as the market awaits the US CPI & India's CPI data later in the evening which can give a strong rally going ahead to rupee. With the dollar index also muted, the rupee stayed muted with no precise moves in Crude prices as well. CPI data coming lower on expectation will help the rupee going ahead as the FII's buying into Indian markets has been supported the rupee will further help the rupee to scale higher. Rupee range can be seen between 81.75-82.25 more likely rupee can go higher above 81.75 on current anticipated US CPI data at 5.2% vs 6% and India's CPI expected at 5.8% vs 6.44%.
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