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Reliance Securities Report
The Indian rupee appreciated for the first time in 5 sessions against the U.S. dollar tracking a broad dollar decline, as investors bet that the Federal Reserve may not rush to scale back stimulus.
The rupee ended at 74.30 compared with 74.74 in the previous session. The local unit gained by 0.6% this Monday. Other regional currencies were also stronger against the U.S. dollar on Monday and lent support.
On the equity side, the benchmark S&P BSE Sensex ended higher for a second consecutive session and gained 0.75% on Monday and also helped the local unit.
However concerns remained on oil, which continued to remain positive on Monday afternoon trade in Asia.
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