Rupee And Bond Update - April 16, 2021: Reliance Securities
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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.
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