Rupee And Bond Update - February 02, 2021: Reliance Securities 
Friday Indian two thousand rupee banknotes are arranged for a photograph in Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)

Rupee And Bond Update - February 02, 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 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.

Click on the attachment to read the full report:

Reliance Securities Currency Update - February 02 2021.pdf

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