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Reliance Securities Report
The Indian rupee depreciated against the dollar and posted its worst day in over one month as risk appetite waned in the region due to surging Covid-19 cases in Europe and the United States pushed investors towards the safe-haven dollar.
U.S. dollar took support from rumours that France, Spain and Italy could impose complete lockdown to curb the spread of the coronavirus.
Additionally, the U.S. dollar also took support amid continuing uncertainty over the U.S. fiscal stimulus ahead of the Presidential elections.
Most Asian currencies are weak this Monday and weighed on sentiments.
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