Rupee And Bond Update - January 21, 2022: Reliance Securities
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Reliance Securities Report
The Indian rupee depreciated against the U.S. dollar on Thursday in volatile session tracking sharp losses in domestic equities and dollar demand from importers.
The rupee ended at 74.50 compared with 74.43 close in the previous session.
India's benchmark BSE Sensex fell 1.1% this Thursday, while foreign investors have net sold $1.1 billion of Indian equities in the last six sessions and weighed on sentiments.
Meanwhile, Asian peers were stronger after the People’s Bank of China reduced the one-year loan prime rate by 10 basis points, after cutting the benchmark by five basis points in December to address the growth slump in Asia’s largest economy.
The Chinese central bank's decision supported Asian peers and capped weakness.
Some respite also came from slightly weaker crude oil prices which was trading marginally in the red this Thursday afternoon trade in Asia.
The U.S. dollar rebounded, while the non dollar currencies were weak on Thursday.
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