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Reliance Securities Report
The Indian rupee appreciated on Monday against the U.S. dollar tracking a recovery in regional equities and on likely investment flows.
The rupee ended at 74.61 compared with 75.04 close logging its biggest one-day rise since November 8 this Friday.
Meanwhile, Asian and emerging market peers were also stronger and lent support to the domestic unit.
For the month of January, the rupee depreciated against the dollar by about 0.4% as worries over the pace of rate hikes and aggressive policy moves by the U.S. Federal Reserve prompted outflows from Indian equities.
Focus for investors has now shifted to India's federal budget for the next fiscal year, due today, where borrowing numbers and fiscal glide path will be divulged.
Indian bond yields rose on Monday, with the benchmark 6.54% bond ending at 98 6.68%, versus 6.77% close on Friday.
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