Reliance Securities: Currency And Bond Update - August 19, 2020

Reliance Securities: Currency And Bond Update - August 19, 2020

Indian two thousand and five hundred rupee banknotes are arranged for a photograph in Mumbai, India (Photographer Dhiraj Singh/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Reliance Securities Report

The Indian rupee appreciated against the U.S. dollar this Tuesday supported by a decline in the dollar index and foreign fund inflows.

U.S. dollar tumbled tracking weak U.S. Treasury yields, doubts about the economic recovery and fiscal impasse in Washington.

However, news reports came in yesterday that Senate Republicans are planning to introduce a scaled-back coronavirus relief package. The slimmed down bill will provide an 300 dollar a week in federal unemployment benefits.

The rupee was quoted at 74.76 to the dollar this Tuesday compared with 74.89 on Monday.

The benchmark S&P BSE Sensex and the broader Nifty 50 index ended 1.26% and 1.23% higher, respectively, tracking Asian cues.

The U.S. dollar index fell to its lowest in more than two years on Tuesday as the ongoing effects of the Federal Reserve's stimulus programs weakened the greenback broadly for the fifth consecutive day.

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Reliance Securities Currency & Bond Update - August 19, 2020.pdf
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