Reliance Securities: Currency And Bond Update - September 10, 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 - September 10, 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 against the U.S. dollar on Wednesday as foreign banks' dollar sales to investment flows countered the impact of a weak risk appetite in the region.

The rupee was quoted at 73.53 to the dollar compared with 73.60 on Tuesday.

Markets remained extremely volatile this Wednesday.

The session started with losses amid risk-off sentiments in the region, however, towards the end of the session appreciated significantly supported by portfolio flows into the equity markets.

Meanwhile, on the international front U.S. dollar index is trading firm this Wednesday afternoon ahead of the central bank meetings over the next couple of weeks and limited appreciation.

The benchmark S&P BSE Sensex and the broader Nifty 50 index fell for the second consecutive session to end 0.45% and 0.35% lower respectively on Wednesday.

The U.S. dollar index slid from a four-week high on Wednesday, led by losses against the euro after a news report said European Central Bank officials have become more confident in their outlook for the region's recovery.

Click on the attachment to read the full report:

Reliance Securities Currency Update - September 10, 2020.pdf


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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