Rupee And Bond Update - March 31, 2021: Reliance Securities
The portrait of Mahatma Gandhi is displayed on an Indian rupee note. (Photographer: Brent Lewin/Bloomberg)  

Rupee And Bond Update - March 31, 2021: Reliance Securities

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Reliance Securities Report

The Indian rupee depreciated against the U.S. dollar this Tuesday as the greenback continued to strengthen along with hardening U.S. bond yields.

The rupee ended at 73.38 to the dollar against 72.51 in the previous session. The rupee weakened to an intraday low of 73.43, its lowest level since March 09.

While, month end importer demand and reduced fiscal year-end exporter dollar selling also weighed on the local currency this Tuesday.

Additionally, worries over second wave of coronavirus infections in India have also waned on risk appetite and kept investors away from the markets.

The benchmark 5.85% bond maturing in 2030 ended lower at Rs 97.88, yielding 6.14%, against Rs 98.02 and 6.12% at the previous close.

Click on the attachment to read the full report:

Reliance Securities Currency Update - March 31 2021.pdf


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.

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