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Reliance Securities Report
The Indian rupee depreciated marginally against the U.S. dollar this Wednesday tracking broad losses in regional currencies.
The rupee at 75.03 compared with 74.96 in the previous session.
However, dollar inflows, easing benchmark U.S treasury yields and flat dollar capped weakness in the intraday trade ahead of key central bank meetings and data points this week.
At the same time, dollar buying from oil companies to some extent could offset the dollar inflows to keep the rupee broadly range bound.
In the overseas markets, the dollar index eased, while the 10-year U.S. Treasury yield ended under 1.60% this Wednesday.
In fact, the currency markets have been generally quiet in recent sessions as investors wait for the U.S. Federal Reserve meeting next week along with the announcements from European, Canadian and Japanese central banks for clues.
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