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