Major developments:

USD is now at 71.45. Rupee opened at 71.57 . Expect 71.35-71.65 range for the day. Rupee’s decline is attributed to steep rise in Crude, following attack on Saudi Aramco refinery. This could affect 5% of Global Oil supply. US President has ordered release of Oil from US strategic reserve to contain prices. Saudi says that one third of production will be back within 3 days. FOMC meeting, BOE and BOJ meetings are other important events for this week.

-USDINR is at 71.45. Friday’s close was 70.92.

-Indian Equity indices decline marginally.

-Indian 10 year G-SEC yield is at 6.64%.

-USDINR 1 yr fwd premia is at 4.48%.

USDINR @ 71.45, EUR/USD 1.1074, GBP/USD @ 1.2467, USD/JPY @ 107.82, EUR/INR @ 79.12, GBP/INR @ 89.07, JPY/INR @ 66.25.

Gold@1504, WTI Crude @ 59.62, Nifty @ 11026 (-49), 10 Year G-SEC @ 6.64.