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Reliance Securities Report
The Indian rupee appreciated against the U.S. dollar this Monday tracking a broad decline in the dollar index and rebound in equities.
The rupee ended at 74.72 compared with 75.01 in the previous session. The rupee strengthened by 0.4% this Monday, its biggest single-session rise since April 16, 2021.
Meanwhile, now investors will be keenly awaiting the U.S. Federal Reserve and Bank of Japan meetings this week.
However, there is a possibility that the meetings could be a non-event for currencies as both governors could continue to signal a dovish stance on the monetary policy and continue their bond purchasing program.
The benchmark 5.85% bond maturing in 2030 ended at Rs 98.64, yielding 6.04%, against Rs 98.66 and 6.04% yield at the previous close.
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