Reliance Securities: Currency And Bond Update - September 16, 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 16, 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 ended marginally stronger against the U.S. currency tracking a weak U.S dollar.

However, appreciation bias remained limited as dollar purchases by state-run banks, likely on behalf of the central bank, offset the impact of positive cues on the vaccine front.

The rupee was at 73.48 to the dollar compared with 73.54 on Friday.

The Rupee had appreciated to an intraday high of 73.26 in early trades today, on the back of inflows. However, the Reserve Bank of India chose to mop up inflows aggressively today.

The benchmark S&P BSE Sensex and the broader Nifty 50 index fell 0.25% and 0.21%, respectively, on profit booking.

The U.S. dollar index fell against the basket of currencies on Monday as positive news about a Covid-19 vaccine and upbeat beat mood in the global markets lifted equity markets.

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Reliance Securities Currency Update - September 16, 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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