Reliance Securities: Currency And Bond Update - September 07, 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 appreciated on Friday against the U.S. currency, on continuous dollar sales by foreign banks, likely for portfolio flows.
The Indian rupee ended at 73.14 against the U.S. dollar against a previous close at 73.47 on Thursday.
Asian currencies were relatively stable this Friday. The onshore Chinese yuan edged higher while the Korean was just 0.1% lower.
The one-year forward premium was at 3.06 rupees, compared with 3.04 rupees on Thursday.
The benchmark S&P BSE Sensex and the broader Nifty 50 index fell 1.63% and 1.68%, respectively, with 28 of 30 stocks on the BSE Sensex ending in the red.
The U.S. dollar index ended with marginal gains but upside was capped as risk assets recovered on Friday afternoon, despite weak Labour Department report, threatening the economy's recovery from the Covid-19 pandemic.
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.