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Reliance Securities Report
The Indian rupee depreciated against the U.S. dollar on Friday amid risk aversion due to escalating tension between U.S. and China.
The rupee ended at 74.83 to the dollar on Friday compared to 74.76 close in the previous session.
However, for the week, the rupee appreciated on the back of foreign fund inflows and weak U.S. dollar.
The benchmark S&P BSE Sensex and the broader Nifty 50 index ended 0.03% and 0.19% lower, respectively on Friday.
U.S. dollar tumbled on Friday near a two year low as risk appetite waned due to a host of concerns including a continued rise in coronavirus cases, a delay in the U.S. stimulus package bill and simmering U.S.-China tensions.
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