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 dollar this Thursday weighed down by Omicron uncertainties on the global economic recovery and a hawkish U.S. Federal Reserve.
The rupee ended at 74.9950 per dollar compared with 74.9050 in the previous session. The unit had briefly weakened to an intraday low of 75.08 but may have trimmed losses on dollar sales.
Meanwhile most Asian currencies were weak, while a recovery in crude oil and of the dollar also weighed on the local unit. India bond yields ended unchanged this Thursday with the benchmark 6.10% bond ending at 6.35%.
The dollar Index edged higher on Thursday in choppy trading as risk appetite improved, although investors remained worried about the fast-spreading Omicron coronavirus variant and the speed at which the U.S. Federal Reserve will taper its asset purchases.
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