Rupee And Bond Update - June 28, 2021: Reliance Securities

Indian rupee and U.S. dollar banknotes are arranged for a photograph in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Rupee And Bond Update - June 28, 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 for the fourth straight week against the U.S. dollar on increased dollar demand from oil companies amid a persistent rise in crude oil prices.

The rupee ended at 74.20 compared with 74.16 in the previous session. The unit fell 0.5% last week, adding to an aggregate near 2% depreciation in the last three weeks.

Apart from crude oil prices, the major talking point of the market throughout the week was the outlook of the Federal Reserve’s monetary policy.

Fed Chairman Jerome Powell downplayed the inflation threat and reiterated the U.S. central bank’s commitment to the broad labour market recovery.

Click on the attachment to read the full report:

Reliance Securities Currency Update - June 28 2021.pdf

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