Rupee And Bond Update - January 08, 2021: Reliance Securities 
The portrait of Mahatma Gandhi is displayed on an Indian 50 rupee, left, and 2000 rupee banknotes. (Photographer: Brent Lewin/Bloomberg)

Rupee And Bond Update - January 08, 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 against the U.S dollar on Thursday weighed down by rumoured dollar purchases by the Indian Central bank to counter the impact of equity and fund flows.

The rupee ended at 73.33 compared with 73.10 in the previous session. The rupee fell 0.3% today, and logged its worst day since November 12.

Reuters reported that foreign banks were receiving heavily in the forwards market, sending the one year forward premium lower to 3.28 rupees against 3.32 rupees yesterday.

The benchmark 5.77% bond maturing in 2030 ended at 99.10 rupees, yielding 5.89%, against 99.08 rupees and 5.90% yield at the previous close.

Click on the attachment to read the full report:

Reliance Securities Currency Update - January 08 2021.pdf

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