Rupee And Bond Update - December 24, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee appreciated against the U.S. dollar for a fourth straight session on Thursday as risk appetite improved as concerns over the economic impact of the Omicron variant of the coronavirus eased.
The rupee ended at 75.24 per dollar its strongest since December 3 and against 75.55 in the previous session.
The currency appreciated by 0.4% this Thursday.
The local unit has gained 1.1% so far this week and is poised for its best weekly performance since April 30.
Interbank selling the U.S. dollar/Indian rupee pair, Reserve Bank of India’s presence in the market, absence of importers and aggressive hedging by exporters in anticipation of quarter-end dollar inflows lent support this week.
Most regional and emerging market currencies appreciated against the U.S. dollar this Thursday and lent support.
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