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Reliance Securities: Currency And Bond Update - August 17, 2020

Reliance Securities: Currency And Bond Update- August 17, 2020

Indian 2,000 and 500 rupee banknote arranged for photograph (Photographer: Brent Lewin/Bloomberg)
Indian 2,000 and 500 rupee banknote arranged for photograph (Photographer: Brent Lewin/Bloomberg)

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 ended weak on Friday as weak regional equities and currencies weighed on the market.

The rupee was quoted at 74.90 to the dollar this Friday compared with 74.84 on Thursday.

Asian currencies were weak while equities were mostly weaker this Friday trade and weighed on sentiments.

Sentiments were also as stimulus hopes faded after President Donald Trump said he was blocking Democrats' effort to include funds for the U.S. Postal Service and election infrastructure in a new coronavirus relief bill.

U.S. dollar ended weak on Friday as the delay in the passage of additional U.S. stimulus for virus relief weighed on the Greenback.

The dollar had little reaction to the upbeat retail sales data. Data showed that U.S retails rose by 1.2% in July, which was lower than expected, but a higher than forecast gain of 1.9%, excluding autos.

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Reliance Securities Currency & Bond Update - August 17, 2020.pdf

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