Reliance Securities: Currency And Bond Update - September 17, 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 17, 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 supported by strong Asian cues and weak U.S. dollar ahead of the Fed monetary policy.

However, importer bids and state-run banks for defence-related payments limited appreciation bias for the domestic unit.

The rupee ended at 73.52 this Wednesday against the previous close of 73.65.

The benchmark S&P BSE Sensex and the broader Nifty 50 index rose for a second straight day to close 0.66% and 0.72% higher on Wednesday.

The one-year forward premium was at 3.18 rupees, against 3.17 rupees at previous close.

The U.S. dollar index gained on Wednesday in choppy trading after the Federal Reserve kept interest rates pinned near zero and said it expects the U.S. economic recovery from the coronavirus crisis to accelerate.

Click on the attachment to read the full report:

Reliance Securities Currency Update - September 17, 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.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

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