Reliance Securities: Currency And Bond Update - October 21, 2020
Indian two thousand and five hundred rupee banknotes are arranged for a photograph in Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)

Reliance Securities: Currency And Bond Update - October 21, 2020

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 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.

Click on the attachment to read the full report:

Reliance Securities Currency Update - October 21 2020.pdf

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This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

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