Reliance Securities: Currency And Bond Update - December 15, 2020
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Reliance Securities Report
The Indian rupee appreciated against the U.S. currency supported by foreign portfolio flows and a weak U.S. dollar.
The rupee ended at 73.58 to the dollar compared with 73.65 on Friday.
The dollar index was down by almost 0.5% at 90.55 this Monday afternoon trade, hovering near its lowest level since April 2018.
The Federal Reserve will come out with its monetary policy review on Wednesday. We believe that the U.S. Fed could provide fresh hints toward adjustments in the asset purchase program and could weigh on the greenback.
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