Reliance Securities: Currency And Bond Update - August 14, 2020
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Reliance Securities Report
The Indian rupee ended flat on Thursday against the U.S. dollar amid muted movement in regional currencies and equities, while markets awaited the retail inflation print for July for further cues on policy rates.
The rupee was quoted at 74.84 to the dollar compared with 74.83 on Wednesday.
Weak U.S. dollar limited depreciation bias, however, with no major trigger, markets witnessed some consolidation today.
Asian currencies were mixed while equities were mostly higher.
The benchmark S&P BSE Sensex and the broader Nifty 50 index pared early gains to end 0.15% and 0.07% lower respectively.
U.S. dollar fell on Thursday against the basket of currencies weighed down by the impasse in Congress about additional U.S. stimulus to help cope with the coronavirus pandemic.
Better than expected claims data limited downside for the U.S. dollar.
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