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