Reliance Securities: Currency And Bond Update - October 29, 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 29, 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 dollar as risk appetite waned following another wave of coronavirus infections in the U.S. and Europe.

German newspaper Bild reported that Chancellor Angela Merkel wants to close all restaurants and bars and some other venues from November 04 in a bid to curb new infections.

Reports that France is mulling a national lockdown also weighed on sentiments.

Greenback purchases by state-run banks, likely on behalf of importers also weighed on the local unit.

Uncertainty over the outcome of the U.S. Presidential election and U.S. stimulus impasse also weighed on the domestic unit this intraday session.

Click on the attachment to read the full report:

Reliance Securities Currency Update - October 29 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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