Reliance Securities: Currency And Bond Update - October 22, 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 22, 2020

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. 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 this Wednesday supported by purchases by the central bank in anticipation of inflows into the domestic equity markets.

The rupee ended at 73.58 to a dollar compared with 73.46 in the previous session. Intraday low was 73.62.

Risk sentiment in the region improved on renewed hopes of a U.S. fiscal stimulus deal being reached before the November 03 presidential elections.

The upbeat risk sentiment sent the dollar index to one-month lows.

The Chinese yuan appreciated against the U.S. dollar led Asian currencies higher this Wednesday and kept upside limited for the U.S. dollar-Indian rupee spot pair.

Click on the attachment to read the full report:

Reliance Securities Currency Update - October 22 2020.pdf

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