Rupee And Bond Update - April 12, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee depreciated on Friday and started of the new fiscal year on a weak note against the dollar in seven years on the back of the central bank’s quantitative easing announcement which could lead to inflationary pressures and importer covering.
The rupee ended at 74.74 compared with 74.59 in the previous session.
Foreign banks were also covering their dollar short positions, given the uneasiness stemming from a surge in Covid-19 cases in the country and weighed on the domestic unit.
The benchmark 5.85% bond maturing in 2030 ended higher at Rs 98.78, yielding 6.02%, against Rs 98.68 and 6.03% yield at the previous close.
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