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.
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