Reliance Securities: Currency And Bond Update - September 04, 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. currency as the dollar index extended its rebound, as speculators exited short positions on the greenback.
The rupee was at 73.47 to the dollar compared with 73.03 yesterday.
The rupee depreciated for a second day and posted, its biggest single-session fall since May 04, 2020.
The one-year forward premium was at 3.04 rupees, compared with 3.09 rupees yesterday.
The benchmark S&P BSE Sensex and the broader Nifty 50 index snapped a two-day winning streak to end 0.24% and 0.07% lower, respectively.
The U.S. dollar index ended flat on Thursday ahead of the non-farm payrolls.
Meanwhile, Initial claims for state unemployment benefits fell 130,000 to a seasonally adjusted 881,000 for the week ended August 29, 2020. Economists polled by Reuters had forecast 950,000 applications in the latest week.
Click on the attachment to read the full report:
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.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.