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 on Friday against the U.S. dollar tracking a rebound in regional equities.
For the week, the rupee ended flat against the dollar as fund flows offset worries over an early interest rate lift-off by the Federal Reserve.
Additionally, weaker Asian and emerging market peers and stronger Crude oil prices this week also kept appreciation bias limited.
The rupee ended at 74.31 compared with 74.49 at close yesterday. The rupee had appreciated by 2.3% in the last two weeks.
Nonfarm payrolls rose by 199,000 jobs last month amid worker shortages, lower than a forecast of 400,000, with moderate job gains expected in the near term as spiralling Covid-19 infections disrupt economic activity.
The dollar dropped on Friday. However, benchmark U.S. Treasury yields surged to their highest level in two years on Friday, as investors worry over a more hawkish Federal Reserve and surging inflation.
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