Reliance Securities: Currency And Bond Update - September 10, 2020
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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.
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