Rupee And Bond Update - July 08, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee ended weaker for a second straight session on Wednesday against the U.S. dollar on weak risk appetite due to worries over slowdown in the pace of economic recovery.
The rupee ended at 74.62 compared with 74.54 in the previous session.
Meanwhile oil and telecom companies continued to buy dollars and pushed the U.S. dollar, Indian rupee spot pair briefly to 74.79; however presence of foreign banks selling dollar capped upside in the pair.
In the overseas markets, the dollar index edged higher on Wednesday afternoon trade in Asia and weighed on sentiments.
The benchmark 5.85% bond maturing in 2030 ended higher at Rs 97.78, yielding 6.16%, against Rs 97.70 and 6.18% yield yesterday.
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