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 for a third straight session against the U.S. dollar tracking upbeat local equities and weak dollar this Monday.
However, importers' dollar demand and speculation that the Reserve Bank of India may not allow the local currency to appreciate from current levels limited gains.
The rupee ended 74.26 compared with 74.33 close on Friday.
The local currency had briefly weakened to an intraday low of 74.46 this Monday.
Meanwhile, India’s benchmark BSE Sensex ended 1.6% higher while other regional peers also rose.
On the currencies side, most Asian peers were weak this Monday afternoon.
The U.S. dollar rose against a basket of major currencies on Monday, in sync with government bond yields as investors anticipate the Federal Reserve will stay on its path of interest rate hikes in 2022.
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