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Reliance Securities Report
The Indian rupee appreciated against the U.S. dollar on Tuesday lifted by on dollar sales by foreign banks.
The rupee ended at 74.37 but briefly strengthened to high of 74.29, versus a closed at 74.48 in the previous session. However, the local unit pared gains on likely importer hedging dollars.
Most Asian and emerging market currencies have strengthened supported upbeat risk appetite in the region and shrugged off a stronger dollar index.
Meanwhile, benchmark Indian government bond yields edged higher on Tuesday. The benchmark 6.10% ended at 6.36%, compared with 6.34%, on Monday.
The dollar index ended at 16-month high, while the 10-year U.S. Treasury yield ended above 1.60% on Tuesday after data showed retail sales rose 1.7% in October, topping consensus expectations of a 1.4% rise.
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