Rupee And Bond Update - May 18, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee appreciated on Monday extending gains from Friday against the greenback tracking strong local equities and on bets that the second Covid-19 wave in the country may have peaked.
The rupee ended at 73.21 versus the U.S. dollar against 73.29 in the previous session.
Meanwhile, regional currencies were mostly weaker against the dollar and capped gains.
Meanwhile, India’s wholesale inflation rate quickened by 10.49% on year in April government data showed. The print outpaced a median forecast of 9.05% annual expansion.
The benchmark 5.85% bond maturing in 2030 ended higher at Rs 99.12, yielding 5.97%, against Rs 99.02 and 5.99% yield at the previous close.
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