Rupee And Bond Update - April 08, 2021: Reliance Securities
The portrait of Mahatma Gandhi is displayed on an Indian 2000 rupee banknote in an arranged photograph in Bangkok, Thailand. (Photographer: Brent Lewin/Bloomberg)

Rupee And Bond Update - April 08, 2021: Reliance Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Reliance Securities Report

The Indian rupee depreciated against the U.S. dollar on the back of importer demand for the greenback and dollar short-covering.

The rupee ended at 74.55 compared with 73.43 in the previous session. The rupee declined 1.5% on Wednesday, its biggest fall since August 05, 2019.

Weakness in the rupee could have been also due to investors aggressively pricing in a hawkish Reserve Bank of India stance and were left disappointed that there was not a more aggressive approach or in our opinion an dovish stance taken by the RBI.

The benchmark 5.85% bond maturing in 2030 ended higher at Rs 98.32, yielding 6.08%, lowest since February 17, and against Rs 98.03 and 6.12% yield at the previous close.

Click on the attachment to read the full report:

Reliance Securities Currency Update - April 08 2021.pdf

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