Reliance Securities: Currency And Bond Update - October 14, 2020

Reliance Securities: Currency And Bond Update - October 14, 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 depreciated marginally for the second straight session against the dollar, tracking a weakness in regional currencies and higher-than-expected domestic inflation print.

The rupee ended at 73.36 to the dollar this Tuesday compared with 73.27 in the previous session.

Markets sentiments remained weak on news that Johnson & Johnson had paused clinical trials of a coronavirus vaccine and as an impasse over U.S. stimulus.

Meanwhile, Asian currencies were trading mostly weaker against the U.S. dollar Index and weighed on domestic sentiments.

However, foreign and portfolio flows into the domestic markets capped losses of the domestic unit.

Looking ahead markets could remain range bound till the outcome of the U.S. elections.

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Reliance Securities Currency Update - October 14, 2020.pdf
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This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

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