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Reliance Securities: Currency And Bond Update- July 29, 2020

Reliance Securities: Currency And Bond Update- July 29, 2020

Indian currency notes of Rs 2,000 denomination are arranged for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)
Indian currency notes of Rs 2,000 denomination are arranged for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

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

Reliance Securities Report

The Indian rupee ended flat against the U.S. dollar on Wednesday ahead of the conclusion of the Federal Reserve System meeting.

The rupee ended at 74.83 to the dollar on Tuesday unchanged from the previous session.

The benchmark S&P BSE Sensex and the broader Nifty 50 Index ended 1.47% and 1.52% higher, respectively, supported by gains in most Asian equities.

Foreign fund inflows kept depreciation bias limited, while possible intervention from the central bank kept the appreciation bias limited.

However, rise in cases in Covid-19 dented hopes for a quick economic recovery and weighed on the Greenback.

The euro fell against the U.S. dollar on Tuesday amid a recovery in the Greenback.

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Reliance Securities Currency & Bond Update - July 29, 2020.pdf

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