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'Rupee could break Rs 80 mark against dollar next week'

'Rupee could break Rs 80 mark against dollar next week'

The Indian rupee will trade between Rs 79.50-Rs 80.50 against the US dollar next week, a senior official of LKP Securities said on Friday.

On Friday during the early trade, the Indian rupee gained seven paise to touch Rs 79.92 for a dollar.

According to Jateen Trivedi, Vice President, and Research Analyst at LKP Securities, the rupee range can be seen between 79.50-80.50 for the coming week.

"Rupee traded in a range between 79.80 and 79.98. As the dollar index is traded in a range, broadly the trend for dollar is positive till the time it is above $105... next hurdle for a dollar can be seen around $110, hence rupee can be seen as weak... the trend continues towards 80.50," Trivedi said.

He said the Rs 79.25 mark will act as resistance for the rupee and a break above Rs 79.25 will trigger short covering for the rupee.

'Rupee could break Rs 80 mark against dollar next week'

'Rupee could break Rs 80 mark against dollar next week'

The Indian rupee will trade between Rs 79.50-Rs 80.50 against the US dollar next week, a senior official of LKP Securities said on Friday.

On Friday during the early trade, the Indian rupee gained seven paise to touch Rs 79.92 for a dollar.

According to Jateen Trivedi, Vice President, and Research Analyst at LKP Securities, the rupee range can be seen between 79.50-80.50 for the coming week.

"Rupee traded in a range between 79.80 and 79.98. As the dollar index is traded in a range, broadly the trend for dollar is positive till the time it is above $105... next hurdle for a dollar can be seen around $110, hence rupee can be seen as weak... the trend continues towards 80.50," Trivedi said.

He said the Rs 79.25 mark will act as resistance for the rupee and a break above Rs 79.25 will trigger short covering for the rupee.

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