Rupee And Bond Update - May 28, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee appreciated for the second straight session against the dollar, tracking gains in the Chinese yuan.
The Reserve Bank of India also remained away from the spot market from accumulating dollars also aided the rupee's gain.
One of the reasons why the RBI has not been very active in accumulating dollars is the higher that budgeted dividend of Rs 991.22 billion ($13.6 billion) to the federal government.
The rupee ended at 72.59 to the dollar compared with 72.77 in the previous session.
Meanwhile, the yuan, appreciated to its highest level in three years. Most other regional currencies also appreciated in sync and lent support to the domestic unit.
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