Reliance Securities: Currency And Bond Update - November 18, 2020
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Reliance Securities Report
The Indian rupee appreciated against the U.S dollar for a second consecutive session amid improved risk appetite in the region supported by news of another potentially effective coronavirus vaccine.
However greenback purchases from public sector undertaking banks, likely on behalf of the central bank, along with importers’ dollar demand, offset gains.
The rupee ended at 74.46 against the dollar compared with 74.60 close on Friday.
The currency had risen to an intraday high of 74.39, but fell to the day’s low of 74.63 on persistent dollar buying by state-run banks.
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