Rupee And Bond Update - November 02, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee ended flat against the U.S. dollar this Monday as foreign inflows into local IPO’s offset the impact of a broad dollar strength.
The rupee ended at 74.87 compared with 74.88 in the previous session. The unit had briefly depreciated to an intraday low of 75.04 earlier in the session.
Markets were range bound ahead of the Federal Reserve meeting this week. A taper announcement by the Federal Reserve appears certain but investors will look to cues from details the reduction of the asset purchases.
The dollar eased versus its main rivals on Monday, after posting its biggest daily rise in more than four months in the previous session, as traders position themselves ahead of this week's highly anticipated U.S. Federal Reserve policy meeting.
Monetary policy in the Australia and Britain are also in focus, this week.
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