Reliance Securities: Currency And Bond Update - December 02, 2020
A U.S. one-hundred dollar banknote and Indian ten rupee banknotes are arranged for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Reliance Securities: Currency And Bond Update - December 02, 2020

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Reliance Securities Report

The Indian rupee appreciated against the U.S. dollar this Tuesday supported by inflows into the domestic equity markets and absence of the central bank from the market.

Persistent dollar sales by foreign banks, weak U.S. dollar and upbeat risk appetite in Asia further contributed to the currency’s gains this Tuesday.

The rupee ended at 73.68 to the dollar compared with 74.05 in the previous session.

Briefly the currency had risen to 73.44 earlier in the session, the highest since October 21.

The key triggers for the market this month will be Reserve Bank of India’s monetary policy meeting this week and the FOMC meeting this month.

Click on the attachment to read the full report:

Reliance Securities Currency Update - December 02 2020.pdf

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