Rupee And Bond Update – September 27, 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 depreciated against the U.S. dollar on Friday on worries over China Evergrande Group’s debt crisis impact.

The rupee ended at 73.70 compared with 73.64 in the previous session.

For the week, the local un it weakened by 0.3% against the dollar, amid weak risk appetite and as long-term U.S. yields moved above 1.4% on anticipation of withdrawal of policy support.

However, constant inflows from equities ensured that a sharp selloff was contained this week.

Indian equities continued to outperform their regional peers, with the benchmark BSE Sensex ending at a fresh record high and logging its fifth consecutive weekly rise.

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