Rupee And Bond Update - August 02, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee ended weak on Friday against the dollar on foreign banks’ dollar purchases related to equity-related outflows.
The rupee ended at 74.41 compared with 74.29 in the previous session.
However the rupee remained flat this week and remained marginally weak this July as data and fundamentals took a backseat after the highly transmissible delta variant of the coronavirus led to a surge in infections in several Asian countries prompting authorities to reintroduce restrictions.
The dollar Index rose on Friday along with other safe haven currencies as stocks fell and as upbeat U.S. economic data helped reverse some of the losses from earlier this week when dovish remarks by the Federal Reserve tanked a month-long rally in the greenback.
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