Rupee And Bond Update - May 31, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee appreciated for the fifth straight week against the U.S. dollar tracking gains in the Chinese yuan and due to the continued absence of the Reserve Bank of India in the spot market.
The rupee ended at 72.44 compared with 72.59 in the previous session.
The rupee strengthened to a two-month high of 72.32 earlier in the day.
For the week, it gained 0.5%, adding to an aggregate rise of nearly 3% in the last four weeks.
The Yuan was up 1% this week to 6.3619 to the dollar, its highest level in three years, logging its best weekly performance this year and largely come on the back of People's Bank of China’s willingness to letting the currency appreciate.
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