Rupee And Bond Update - February 03, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee appreciated against the U.S. currency, tracking domestic equity markets supported by hopes of a quick economic rebound following the union budget.
The rupee had strengthened to an intraday high of 72.92 amid hopes that a proposal to increase in capital expenditure in the recently concluded union budget will boost risk appetite.
However, persistent concerns of further weakening of the fiscal deficit kept gains in check.
The rupee ended at 72.96 compared with 73.02 in the previous session.
The benchmark 5.85% bond maturing in 2030 fell for a second consecutive day to close at Rs 97.97, yielding 6.13%, against Rs 98.45 and 6.06% yield at previous close.
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