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Reliance Securities Report
The Indian rupee appreciated on Friday against the U.S. currency supported by portfolio flows into the country and weak U.S. dollar.
The rupee was quoted at 73.45 this Friday to the dollar compared with 73.65.
Asian currencies appreciated this Friday and lent support to the domestic unit.
The one-year forward premium was at 3.17 rupees this Friday, against 3.12 rupees at previous close.
However, the rupee ended the week almost flat in choppy moves. The unit rose 0.1% this week, after having declined 0.5% last week.
The U.S. dollar index fell on Friday as tensions between U.S. and China and lack of progress in U.S. fiscal stimulus negotiations.
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