ECONOMY

Rupee And Bond Update – May 03, 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 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.

Click on the attachment to read the full report:

Reliance Securities Currency Update – May 03 2021.pdf

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