Rupee And Bond Update - December 29, 2021: Reliance Securities
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Reliance Securities Report
The Indian rupee appreciated against the U.S. dollar for a seventh straight session as dollar sales by foreign banks on behalf of exporters and receding concerns over the impact of the Omicron coronavirus strain aided risk sentiment.
The rupee ended at 74.65, its strongest against the dollar since November 26 from 74.9950 close in the previous session.
The rupee has gained 1.9% in the last seven sessions.
Additionally, renewed buying in global equities in holiday-thinned trading has also aided domestic markets.
Asian peers were mixed, but Asian stock markets across the globe rallied and lent support.
The U.S dollar rose on Tuesday helped by safe haven flows amid worries over the spread of Covid-19 and on expectations the Federal Reserve could raise interest rates as early as March.
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