Rupee And Bond Update - April 16, 2021: Reliance Securities
Indian two thousand rupee banknotes are arranged for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Rupee And Bond Update - April 16, 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 appreciated for the first time in seven sessions against the U.S. dollar as talks of Reserve Bank of India’s intervention in the spot markets outweighed fears over the economic shock of rising Covid-19 infections.

The rupee ended at 74.92 compared with 75.06 in the previous session. The currency had earlier weakened to 75.32.

The one-year forward premium was at Rs 3.51, against Rs 3.52 in the previous session.

The Indian benchmark government bond yields rose on Thursday to 6.13%, against 6.01% at the previous close despite the central bank buying notes under its so-called government securities acquisition programme.

Meanwhile, some support also came in the form of falling Greenback.

Click on the attachment to read the full report:

Reliance Securities Currency Update - April 16 2021.pdf

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