BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. 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 against the U.S. dollar on Tuesday in a volatile trading session after Moderna CEO warned that existing Covid-19 vaccines would be less effective against the Omicron variant.
The rupee has been under pressure over the last two or three trading sessions as the detection of a new coronavirus variant reignited growth concerns and hurt risk appetite.
The rupee ended at 75.16 per dollar, compared with 75.10 close in the previous session. The local unit had briefly appreciated to an intraday high at 74.86 tracking the weakness of the dollar and easing crude oil prices.
On the data front, economy grew 8.4% from a year earlier in July to September, the pace slowing from a record 20.1% growth in the fiscal first quarter.
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