Rupee And Bond Update - April 12, 2021: Reliance Securities 
Indian two thousand and five hundred rupee banknotes are arranged for a photograph in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Rupee And Bond Update - April 12, 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 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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Reliance Securities Currency Update - April 12 2021.pdf

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