Reliance Securities: Currency And Bond Update - August 11, 2020
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Reliance Securities Report
The Indian rupee ended with marginal gains this Monday against the U.S. currency supported by dollar inflows and strong local shares.
However, a rebound in the U.S. dollar offset the gains stemming from the flows.
The rupee ended at 74.89 to the dollar against 74.93 in the previous session. The local unit traded in a 10 paise band in the intraday session.
Meanwhile, the gains in the rupee were also aided by a rally in Indian equity markets.
The benchmark S&P BSE Sensex and the broader Nifty 50 index ended 0.37% and 0.54%, higher, respectively on Monday.
U.S. dollar ended higher on Monday as investors focused on the fiscal stimulus plan in the United States and U.S.-China tensions ahead of key trade talks this week.
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