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Rupee And Bond Update - December 17, 2021: Reliance Securities

Rupee And Bond Update - December 17, 2021: Reliance Securities

<div class="paragraphs"><p>An Indian five hundred rupee banknote is arranged for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)</p></div><div class="paragraphs"><h4><strong>Topics</strong></h4></div>
An Indian five hundred rupee banknote is arranged for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Topics

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 against the U.S. dollar this Thursday aided by broad dollar decline despite a relatively hawkish Federal Reserve.

Dollar sales by multinationals also helped the local unit this Thursday.

The rupee ended at 76.09 against 76.23 close in the previous session. The local currency had briefly depreciated to an intraday low of 76.31 earlier in the session.

Rumours of Reserve Bank of India presence at 76.30 to prevent volatility in the exchange rate may have also aided sentiments.

Asian currencies were flat-to-higher while India’s benchmark BSE Sensex added 0.2% and lent support.

The Dollar weakened, while the 10-year benchmark U.S. yields also ended weak.

Click on the attachment to read the full report:

Reliance Securities Currency - December 17 2021.pdf

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