Rupee And Bond Update – February 22, 2022: Reliance Securities

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Reliance Securities Report

The Indian rupee appreciated against the U.S. dollar for the fourth session in amid dollar sales on optimism about a resolution to the Ukraine issue and in anticipation of inflows.

The rupee ended at 74.51 compared with 74.66 on Friday.

The local unit hit an intraday high 74.35 during the day.

Meanwhile, the Asian currencies appreciated against the U.S. dollar after the U.S. and Russia had agreed in principle to hold a summit to discuss security and strategic stability in Europe.

Additionally, foreign banks were on the selling side for the pair, as they may have been receiving inflows ahead of the initial share sale plan of the nation’s largest insurer, LIC.

Indian government bond yields ended higher on Monday. The benchmark 6.54% bond ended 6.69%, versus 6.66% on Friday.

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