Rupee And Bond Update – May 18, 2022: Reliance Securities

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Reliance Securities Report

The Indian rupee depreciated against the dollar on Tuesday weighed down by high crude prices, rising inflation and weak risk appetite.

However, stronger Asian and emerging market peers, dollar sales by state-run banks, likely on behalf of the Reserve Bank of India and exporters hedging their exposures kept losses in check.

Additionally, the local unit got some support from rising domestic equity markets.

India’s BSE Sensex equity index rose 2.5% this Tuesday.

The rupee ended at 77.57 a dollar the weakest ever close, compared with 77.45 on Friday. The local unit, which weakened to an all-time low at 77.80.

Meanwhile, India’s wholesale inflation quickened to an annual 15.08% in April, the fastest pace since at least April 2005, driven by high food and fuel prices.

Indian bond yields ended higher for the third consecutive session as bearish sentiment worsened due to elevated oil prices.

The benchmark 6.54% bond ended at 7.37% against 7.32% close on Friday.

Click on the attachment to read the full report:


This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Most Related Links :
honestcolumnist Governmental News Finance News

Source link

Back to top button