Rupee And Bond Update - August 10, 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 against the U.S. dollar as strong U.S. jobs data increased expectations that the U.S. Federal Reserve would hike interest rates and begin asset tapering earlier than expected.
The rupee ended at 74.26 compared with 74.16 in the previous session. The rupee has traded in a narrow seven-paise band in today’s session.
Some respite came as oil prices slumped, with the benchmark brent crude contract slipping below the $70-per-barrel mark for the first time in over three weeks.
The benchmark S&P BSE Sensex and the broader Nifty 50 index ended 0.23% and 0.12% higher, respectively, while the rest were mixed on Monday.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.