Reliance Securities: Currency And Bond Update - December 01, 2020
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Reliance Securities Report
The Indian rupee depreciated against the U.S. dollar on Friday possibly on the back of Greenback purchases likely on behalf of the central bank.
The rupee ended at 74.05 to the dollar compared with 73.89 in the previous session.
However for the month of November, the currency ended pretty flat against the U.S. dollar as persistent dollar bids likely for the central bank, offset the impact of robust foreign inflows in local equities and a broad dollar weakness.
On the data front, India’s economy contracted at a slower pace in the fiscal second quarter, as New Delhi lifted most lockdown restrictions and policymakers ramped up stimulus measures to combat the coronavirus crisis.
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