Rupee And Bond Update - October 25, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee appreciated this week against the U.S. dollar as foreign banks continued to sell the greenback prompting an exit of long positions on the dollar.
The unit strengthened by 0.5% this week. For the session the currency ended flat this Friday.
The rupee ended at 74.89 compared with 74.86 on Thursday.
Meanwhile, the rupee’s focus throughout the week was on the pickup in inflation expectations due to surging commodity prices.
In other news, the Reserve Bank of India’s Monetary Policy Committee minutes showed that members of the rate-setting panel raised concerns over inflation amid global price shocks.
The U.S dollar pared losses on Friday after Federal Reserve Chairman Jerome Powell said the U.S. central bank should begin reducing its asset purchases soon but should not yet raise interest rates.
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