Rupee And Bond Update- October 27, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee appreciated against the U.S. dollar on Tuesday tracking broad advances in regional equities and currencies.
However, dollar demand from state-run banks, likely on behalf of importers, capped large gains in the local unit.
The rupee ended at 74.96 per dollar compared with 75.08 in the previous session.
Additionally, fund flows will continue into the initial public offerings this week into the local markets and that has kept the rupee supported over the last few trading sessions.
Meanwhile, Asian and most of the emerging market currencies are trading higher on Tuesday and lent support.
Easing crude oil prices and easing U.S. Treasury yields during this European trading session also helped the local unit.
The U.S. dollar edged up on Tuesday in narrow-range trading as markets awaited news from upcoming central bank meetings.
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