Rupee And Bond Update - July 08, 2021: Reliance Securities

An Indian 500 rupee, bottom, and a 2,000 rupee banknotes are arranged for a photograph in Thailand. (Photographer: Brent Lewin/Bloomberg)

Rupee And Bond Update - July 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 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.

Click on the attachment to read the full report:

Reliance Securities Currency Update - July 08 2021.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.