Major developments:

USD is now at 74.88. USDINR opened at 74.79. Expected range: 74.65-75.10. Global markets are recovering as 1) US lawmakers are inching towards on debt ceiling agreement, 2) Crude Oil rally paused as US Crude inventory rose and Russia assured Europe of natural gas supply.

RBI meeting on Friday and US Employment data are key events.

-USDINR is at 74.88 .Prior day’s close was 74.98.

-Indian Equity indices climb.

-Indian 10 year G-SEC yield is at 6.27%.

-USDINR 1 yr fwd premia is at 4.42%.

USDINR @ 74.88, EUR/USD 1.1556, GBP/USD @ 1.3585, USD/JPY @ 111.43, EUR/INR @ 86.51, GBP/INR @ 101.70, JPY/INR @ 67.18.

Gold@1760, WTI Crude @ 76.85, Nifty @ 17807(+161), 10 Year G-SEC @ 6.27%.

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