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Reliance Securities Report
The Indian rupee ended marginally stronger against the dollar on Thursday helped by dollar sales by exporters as global oil prices eased.
The rupee ended at 78.30/dollar from a record closing low of 78.39 on Wednesday.
However, the local unit continued to remain under pressure amid rising concerns of a recession.
The rupee retested a low of 78.3825, after opening stronger at 78.26 and testing a intraday high of 78.2325 this Thursday’s trade. Asian and emerging market peers were weak except for the Chinese Yuan and Malaysian Ringgit.
India’s bond yields ended higher as traders booked profits.
The benchmark 6.54% bond ended at 7.42%, against yesterday’s close of 7.40%.
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