Reliance Securities: Currency And Bond Update - October 21, 2020
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Reliance Securities Report
The Indian rupee depreciated against the U.S. dollar on aggressive dollar-buying by state-run banks, likely on behalf of the central bank, to offset the impact of foreign inflows.
The rupee ended at 73.46 compared with 73.37 in the previous session.
However, the currency still remained range bound ahead of the deadline of the additional U.S. stimulus and the U.S. Presidential elections.
U.S. dollar Index was flat to marginally weaker this Tuesday, while most of the Asian currencies were marginally stronger.
The benchmark S&P BSE Sensex and the broader Nifty 50 index rose for the third consecutive session to close 0.28% and 0.2% higher, respectively on Tuesday.
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