Rupee And Bond Update - February 18, 2021: Reliance Securities

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Reliance Securities Report

The Indian rupee depreciated against the U.S. dollar on Wednesday in over two weeks, tracking a further uptick in the U.S. 10-year yield to a one-year high and a rebound in the dollar index.

The U.S. bond yields rose on Wednesday afternoon trade supported by the prospects of further economic recovery and a possible acceleration in inflation.

The rupee ended at 72.74 compared with 72.69 in the previous session.

The rupee had initially weakened to 72.92 earlier in the session, but trimmed losses possibly on the back of exporters’ dollar sales.

The benchmark 5.85% bond maturing in 2030 ended at Rs 98.67, yielding 6.03 against Rs 98.73 and 6.02% yield on Tuesday.

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