Major developments:

USD is now at 71.46. Rupee opened at 71.49 . Expect 71.35-71.65 range for the day. Rupee

recovered as Crude prices fell on assurance from Saudi Arabia that production will be

normal by Sept end. FOMC meeting, BOE and BOJ meetings are other important events for this week. FOMC will cut rates by 25 bps today. Market awaits Fed Chairman’s statement after Fed meeting.

-USDINR is at 71.46. Y’day’s close was 71.79.

-Indian Equity indices trade flat.

-Indian 10 year G-SEC yield is at 6.68%.

-USDINR 1 yr fwd premia is at 4.44%.

USDINR @ 71.46, EUR/USD 1.1064, GBP/USD @ 1.2485, USD/JPY @ 108.20, EUR/INR @ 79.06, GBP/INR @ 89.21,

JPY/INR @ 66.04.

Gold@1502, WTI Crude @ 58.85, Nifty @ 10834 (+17), 10 Year G-SEC @ 6.64.