Rupee And Bond Update - February 02, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee depreciated for the second straight session against the U.S. currency this Monday as the government’s higher-than-expected fiscal deficit and speculations that it would impact India's rating.
The rupee ended at 73.02 compared with 72.95 in the previous session.
According to the Union Budget 2021-22, the fiscal deficit would be pegged at 6.8% of gross domestic product for FY22, while the government has pegged at 9.5% of gross domestic product for FY21.
The benchmark 5.85% bond maturing in 2030 ended at Rs 98.45, yielding 6.06%, the highest since August 21, against Rs 99.58 and 5.91% yield at previous close.
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