Major developments:

Rupee is at 71.29. Fwd premia declines as yields fall.

-Equity indices decline. Tata Motors stock crash 29% as company reports 29960 Cr qty loss due to impairment of JLR assets worth GBP 3.1 bn.

-IIP and inflation data expected early next week. 10 Year yields decline further, anticipating more rate cuts.

-Germany is heading into recession. EU economies are dented by trade issues, Chinese slow down, Brexit, French protests and technical recession in Italy.

-US Treasury secy is meeting Chinese counterparts later this week in China to address trade issues before March 1 st deadline.

-USDINR is at 71.29. y’day’s close was 71.45.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 7.29%.

-USDINR 1 yr fwd premia is at 4.01%.

USDINR @ 71.29, EUR/USD 1.1340, GBP/USD @ 1.2948, USD/JPY @ 109.71, EUR/INR @ 80.85, GBP/INR @ 92.30, JPY/INR @ 64.98.

Gold@1340, WTI Crude @ 52.50, Nifty @ 10997 (-72), 10 Year G-SEC @ 7.29.