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