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Reliance Securities Report
The Indian rupee appreciated against the U.S. dollar supported by the weakness of the U.S. currency.
The rupee ended at 73.80 to the dollar compared with 73.90 in the previous session.
The rupee, in early trades, had appreciated to an intraday high of 73.75 on the back of a weak dollar and possibly foreign fund inflows into the domestic equity markets.
Additionally, a combination of optimism surrounding the Covid-19 vaccine and talks of a stimulus aid package also supported the domestic unit.
Meanwhile, Reserve Bank of India’s monetary policy had very little impact on the currency this Friday.
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