Rupee And Bond Update - December 29, 2021: Reliance Securities

Rupee And Bond Update - December 29, 2021: Reliance Securities

Indian two thousand rupee banknotes are arranged for a photograph in Mumbai, India. (Photographer Dhiraj SinghBloomberg)

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 appreciated against the U.S. dollar for a seventh straight session as dollar sales by foreign banks on behalf of exporters and receding concerns over the impact of the Omicron coronavirus strain aided risk sentiment.

The rupee ended at 74.65, its strongest against the dollar since November 26 from 74.9950 close in the previous session.

The rupee has gained 1.9% in the last seven sessions.

Additionally, renewed buying in global equities in holiday-thinned trading has also aided domestic markets.

Asian peers were mixed, but Asian stock markets across the globe rallied and lent support.

The U.S dollar rose on Tuesday helped by safe haven flows amid worries over the spread of Covid-19 and on expectations the Federal Reserve could raise interest rates as early as March.

Click on the attachment to read the full report:

Reliance Securities Currency - December 29 2021.pdf
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