Reliance Securities: Currency And Bond Update - August 21, 2020
Indian two thousand rupee banknotes are arranged for a photograph in Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)

Reliance Securities: Currency And Bond Update - August 21, 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 against the U.S. dollar on Thursday as the Federal Reserve’s minutes suggested a weak view on economic recovery in the U.S., weakening the appetite for risk assets.

The rupee was quoted at 75.03 to the dollar compared with 74.82 on Wednesday. Earlier in the session, the local unit had weakened to a two-week low of 75.05.

Strong U.S. dollar weighed on the local unit. U.S. dollar Index recovered by almost 1% this Thursday from the lows of Wednesday’s session.

The benchmark S&P BSE Sensex and the broader Nifty 50 index ended 1.02% and 0.84% lower, respectively, as regional risk sentiment weakened.

The U.S. dollar fell on Thursday amid weak jobless claims number suggests that the U.S. labour markets will take some time to recover from the pandemic.

Click on the attachment to read the full report:

Reliance Securities Currency & Bond Update - August 21, 2020.pdf

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