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Reliance Securities Report
The Indian rupee ended flat on Wednesday as foreign inflows into the domestic markets offset the strength of the U.S. dollar.
The rupee ended at 73.57 to the dollar this Wednesday compared with 73.58 on Tuesday’s close.
The U.S. dollar continued it bullish momentum over the last few sessions supported by safe haven appeal for the currency amid risk-off sentiments in the markets and slightly upbeat data from the U.S.
The dollar also gained after investors sought the Greenback after a second wave of coronavirus infections in Europe and Britain led to a subsequent decline in the non-dollar currencies like the Euro and the Sterling.
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