Reliance Securities: Currency And Bond Update - August 31, 2020
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Reliance Securities Report
The Indian rupee extended gains this Friday against the Greenback supported by continuous portfolio inflows and weak U.S. dollar.
Lack of the Reserve Bank of India’s intervention in the market also helped the currency to appreciate above 73.50 levels this Friday.
The rupee ended at 73.39 to the dollar against 73.81 on Thursday.
Meanwhile, most Asian currencies were stronger against the U.S. dollar and lent support to the domestic unit.
The benchmark S&P BSE Sensex and the broader Nifty 50 index ended 0.90% and 0.83% higher, respectively on Friday.
The Sensex and the Nifty rose for a second straight week and gained 2.7% and 2.4% respectively.
The U.S. dollar index dollar fell on Friday as the U.S. Federal Reserve's new policy framework suggested that interest rates would remain low.
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