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Reliance Securities Report
The Indian rupee ended flat on Friday. The rupee ended at 74.06 compared with 74.04 in the previous session.
However for the month the rupee weakened against the U.S. dollar as a resurgence of a deadly second wave of Covid-19 cases in the country intensified worries that an economic recovery may be delayed.
Additionally, the currency also came under pressure this April after the Reserve Bank of India announced its own quantitative easing-styled bond purchases and some believed that the plan could turn inflationary.
Domestic equity market benchmarks S&P BSE Sensex and Nifty 50 ended 2% lower on Friday, on the back of weak Asian cues and rising Covid-19 cases.
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