Rupee And Bond Update - February 23, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee appreciated against the U.S. dollar on Monday to its highest level in a year aided by corporate dollar inflows as well as reduced intervention from the central bank.
The rupee ended at 72.51 to the dollar against 72.65 in the previous session. The currency gained to an intraday high of 72.29 to the dollar earlier in the day, its highest level since March 03, 2020.
The benchmark 5.85% bond maturing in 2030 ended at Rs 97.44, yielding 6.20%, its highest since August 26, and against Rs 97.94, yielding a 6.13% yield at the previous close.
Meanwhile, the Reserve Bank of India released the Monetary Policy Committee meeting minutes yesterday and the minutes revealed that one of the MPC members remains worried about inflation.
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