Reliance Securities: Currency And Bond Update- August 13, 2020
Indian two thousand and five hundred rupee banknotes are arranged for a photograph in Mumbai, India (Photographer Dhiraj Singh/Bloomberg)

Reliance Securities: Currency And Bond Update- August 13, 2020

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Reliance Securities Report

The Indian rupee depreciated marginally this Wednesday probably on back of the Reserve Bank of India’s intervention in the market.

Markets speculated that RBI intervened in the markets to counter the large flows which are expected to come into the markets from ICICI Bank’s qualified Institutional placement (QIP).

The rupee was quoted at 74.83 to the dollar compared with 74.77 on Tuesday.

A slight rebound in the U.S. dollar also weighed on sentiments.

Asian currencies ended marginally higher against the U.S. dollar this Wednesday and limited weakness in the domestic unit.

The benchmark S&P BSE Sensex and the broader Nifty 50 index fell 0.10% and 0.12% respectively on Wednesday.

U.S. dollar ended weak on Wednesday as political squabbling over a stimulus package for the U.S. economy halted its recent rebound.

Click on the attachment to read the full report:

Reliance Securities Currency & Bond Update - August 13, 2020.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

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