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Reliance Securities Report
The Indian rupee appreciated against the U.S. dollar for the second consecutive session tracking a broad uptick in regional currencies, even as risk appetite across Asia was largely muted.
The rupee was quoted at 73.38 to the dollar compared with 73.45 on Friday.
Although the risk appetite in the region is weak, flows into the Indian equities and consequently lent support to the domestic unit.
Asian currencies witnessed broad-based strength. The Chinese yuan, the Singapore dollar, the Thai baht and the Indonesian rupiah were up at least 0.3% each this Monday afternoon trade.
The U.S. dollar index rose to an almost six-week high on Monday as investors sought safety on fears about rising Covid-19 cases and uncertainty surrounding November's U.S. elections.
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