ECONOMY

Rupee And Bond Update – July 05, 2021: Reliance Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Reliance Securities Report

The Indian rupee depreciated on Friday and for the 5th straight week against the U.S. dollar, as the dollar continued to strengthen amid increasing bets of an early tapering from the Federal Reserve.

The rupee ended at 74.74 on Friday compared with 74.56 in the previous session. Earlier in the day, the local unit had weakened to 74.87, the lowest since Apr. 26, on foreign banks’ dollar purchases.

For the week, the rupee depreciated by 0.7%, adding to an aggregate fall of 2.4% in the last four weeks. Meanwhile, the currency also weakened on the back of strong oil prices.

Click on the attachment to read the full report:

Reliance Securities Currency Update July 5.pdf

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