Rupee And Bond Update - September 28, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee depreciated against the U.S. dollar on Monday, weighed down by a rise in crude oil prices which rose to their highest in almost three years.
While a rebound in the dollar index on Monday afternoon trade and weaker emerging market’s and Asian currencies also weighed on sentiments.
The rupee ended at 73.84 compared with 73.70 in the previous session.
However, combination of exporter selling, foreign portfolio investment flows and renewed risk appetite in the region kept depreciation bias capped on Monday.
The U.S. dollar rose for a second straight session on Monday, bolstered by the rise in Treasury yields ahead of speeches from Federal Reserve speakers this week who could affirm expectations of the start of asset purchase reduction before the end of the year.
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