Rupee And Bond Update - October 22, 2021: Reliance Securities

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Reliance Securities Report

The Indian rupee ended flat on Thursday against the dollar in a volatile trading session.

Dollar sales by foreign banks capped depreciation while and importer covering kept appreciation bias limited.

The rupee ended at 74.86 to a dollar compared with 74.87 on Wednesday. The unit had briefly strengthened to a 2- week high of 73.70 earlier in the session. The rupee traded in a small band 74.69 to 74.89 range this Thursday.

Asian equities were mostly lower, along with the equities in India amid concerns of high inflation also kept appreciation bias capped this Thursday.

The U.S. dollar gained on Thursday against a basket of currencies, erasing earlier losses, boosted by better jobs and housing data, and as U.S. Treasury yields rose.

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