Rupee And Bond Update - June 03, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee depreciated against the U.S. dollar this Wednesday tracking the weak domestic equity and strong dollar.
Indian rupee ended lower at 73.08 per dollar. It opened 18 paisa lower at 73.08 per dollar against Tuesday's close of 72.90 and traded in the range of 73.04-73.31.
Meanwhile, stronger oil prices have also weighed on sentiments as Saudi Arabian officials said that they are satisfied with rising demand. So the possibility of further strengthening of oil has also hurt sentiments.
Investors have turned cautious on the Indian economy however the stance has added to speculations that the Reserve Bank of India will take measures to infuse liquidity in the markets while keeping the benchmark rates unchanged.
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