Rupee And Bond Update - February 09, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee ended marginally weak against the U.S. currency, as rumoured buying from the Reserve Bank of India and rebound of the U.S. dollar this Monday outweighed the impact of positive regional cues.
Following the RBI’s intervention, the one-year forward premium jumped to 3.70 rupees this Monday, the highest since October 2016, while the implied yield rose to 5.07%, the highest since May 2017.
The rupee ended at 72.96 compared with 72.92 in the previous session.
The benchmark 5.85% bond maturing in 2030 settled higher at Rs 98.60, yielding 6.04%, against Rs 98.37 and 6.07% yield at previous close.
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