Rupee And Bond Update - January 11, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee appreciated against the dollar on Monday tracking broad advances in regional peers and strong local equities.
Likely absence of the Reserve Bank of India in the spot market also led to some trimming of dollar long positions.
The rupee at 74.04 to a dollar its strongest since November 8 against the 74.31 close in the previous session.
Asian currencies were trading higher, helped by the dollar index dropping on Friday, after a weak U.S. non-farm payrolls number.
Indian government bond yields rose on Monday with the benchmark 6.10% bond ending at 6.59%, compared with 6.54% on Friday.
The U.S. dollar edged higher against a basket of currencies on Monday amid expectations of a quicker than previously estimated rate hikes by the Federal Reserve this year.
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