Rupee declines to 68.85 . US market was closed y’day. MSP for Paddy was increased by Rs 200/quintal , 13% increase for 2018-19.Upholding its budget promise, the cabinet has ensured that the MSP for the Kharif season is 50 percent above the cost of production. Inflation impact is to be determined.
Yuan slipped as the deadline for traiff imposition came closer by a day. US and China will mutually slap tariffs effective from July 6 th.
FOMC minutes and US non farm payrolls are other major events for this week.
While Indian pvt sector announced new projects to the extent of 2.1 lac cr in Q1, Govt share fell to 14 year low. Hence new project announcements fell 22% in Q 1 according to CMIE.
-INR is at 68.85. Y’day’s close was 68.73.
-Indian Equity indices decline marginally.
-Indian 10 year G-SEC yield is at 7.87%.
-USDINR 1 yr fwd premia is at 4.26%.
USDINR @ 68.85, EUR/USD 1.1654, GBP/USD @ 1.3222, USD/JPY @ 110.37, EUR/INR @ 80.23, GBP/INR @ 91.03, JPY/INR @ 62.38.
Gold@1254, WTI Crude @ 73.85, Nifty @ 10763 (-6), 10 Year G-SEC @ 7.87.