Reliance Securities: Currency And Bond Update - September 11, 2020
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Reliance Securities Report
The Indian rupee appreciated marginally against the U.S. dollar on Thursday supported by investment flows into the domestic equity markets and slightly weak U.S. dollar.
Meanwhile, on the international front, U.S. Dollar index was trading marginally weak this Thursday afternoon in Asian trade ahead of the European Central Bank meet and lent support to the domestic currency.
The rupee ended at 73.46 to the dollar compared with 73.53 on Wednesday.
The one-year forward premium was at 3.18 rupees, compared with 3.13 rupees on Wednesday.
The benchmark S&P BSE Sensex and the broader Nifty 50 index snapped a two-day losing streak to end 1.69% and 1.52% higher.
The U.S. dollar index fell on Thursday data showed U.S. initial jobless claims totalled a seasonally adjusted 884,000 for the week ended September 05. 2020, matching the number of applications received the prior week.
Economists polled by Reuters had forecast 846,000 jobless claims applications.
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