Reliance Securities: Currency And Bond Update- July 28, 2020
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Reliance Securities Report
The Indian rupee ended flat against the U.S. dollar on Tuesday as gains from weak U.S. dollar Index was offset by possible intervention by RBI.
The rupee ended at 74.83 to the dollar on Monday unchanged from the previous session.
Asian currencies were stronger on the back of weak U.S. dollar and aided sentiments.
The benchmark S&P BSE Sensex and the broader Nifty 50 Index fell 0.51% and 0.56%, respectively on Monday.
U.S. dollar tumbled on Monday as investors exited the safe haven currency as they increased bets the Federal Reserve could remain accommodative in its outlook this week.
No major announcements are anticipated but analysts expect policymakers may begin laying the groundwork for more action in September or the fourth quarter.
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