Rupee And Bond Update - October 14, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee appreciated against the U.S. dollar supported by strong local equities and a pullback in the dollar index.
The rupee ended at 75.37 compared with 75.51 in the previous session.
Meanwhile, the local unit was helped by easing domestic inflation which could enable the Reserve Bank of India’s Monetary Policy Committee to stay accommodative for longer and support growth.
The U.S. dollar eased back from a one-year high on Wednesday as longer-dated Treasury yields fell even after U.S. inflation data that showed prices rose solidly in September, advancing expectations for Federal Reserve tightening.
The Federal Open Market Committee, minutes from the Fed's September policy meeting signalled that the central bankers could start tapering their support for the economy in mid-November.
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