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 dollar on Wednesday and had the best week against the dollar in over nine in a holiday truncated week, supported by robust foreign fund inflows into local initial public offerings and easing crude oil prices.
The rupee ended at of 74.46 compared with 74.68 in the previous session.
For the week, the rupee appreciated by 0.6%, adding to 0.5% gains over the last 2 weeks.
The dollar rose on Friday to hit its highest level in more than a year, after data showed stronger U.S. job growth than expected in October but retreated a bit in late trading as risk appetite improved.
Meanwhile, Fed Chair Jerome Powell said he was in no rush to hike borrowing costs, as there was still ground to cover to reach maximum employment.
The central bank did announce a $15 billion monthly tapering of its $120 billion in monthly asset purchases.
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