Reliance Securities: Currency And Bond Update - September 07, 2020
Indian rupee banknotes are arranged for a photograph. (Photographer Brent Lewin/Bloomberg)

Reliance Securities: Currency And Bond Update - September 07, 2020

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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:

Reliance Securities Currency Update - September 07 2020.pdf

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