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Reliance Securities Report
The Indian rupee appreciated for the third straight session against the U.S. dollar, aided by inflows related to initial public offering’s and positive regional cues.
The rupee ended at 74.19 compared with 74.29 in the previous session. The unit had appreciated to an intraday high at 74.09 earlier in the session, its highest level since June 22.
However, likely intervention from the central bank of India capped further appreciation.
Meanwhile, Asian currencies appreciated against the U.S. dollar today, while gains in the local equity markets and subdued crude oil prices also aided sentiments.
The benchmark S&P BSE Sensex and the broader Nifty 50 index ended with gains, while Asian equities also rose on Wednesday.
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