Rupee And Bond Update - June 03, 2021: Reliance Securities

Indian two thousand and five hundred rupee banknotes are arranged for a photograph in Mumbai, India(Photographer: Dhiraj Singh/Bloomberg).

Rupee And Bond Update - June 03, 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 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.

Click on the attachment to read the full report:

Reliance Securities Currency Update - June 03 2021.pdf

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