Major developments:

Rupee at 69.60, Equities trade flat.

-RBI allows buyer’s credit. Circular issued.

-USDINR fwd premia crashes as RBI is to swap USD 5 bn in spot/fwd transaction( buy spot and sell 3 year fwd). This is to infuse liquidity and bring down fwd premia.

-USDINR is at 69.60. Y’day’s close was 69.54. Expect 69.40-69.75 range for the day.

-Indian Equity indices trade flat.

-Indian 10 year G-SEC yield is at 7.37%.

-USDINR 1 yr fwd premia is at 3.65%.

USDINR @ 69.60, EUR/USD 1.1317, GBP/USD @ 1.3245, USD/JPY @ 111.56, EUR/INR @ 78.76, GBP/INR @ 92.18, JPY/INR @ 62.38.

Gold@1303, WTI Crude @ 58.65, Nifty @ 11340 (-1), 10 Year G-SEC @ 7.37.