USD is now at 71.23. Rupee opened at 71.26 . Expect 71.10-71.30 range for the day.
Rupee declined as Moody rating agency lowered outlook from stable to negative,
citing possibility of fiscal slippage and rising debt levels due to prolonged lower growth. Rating agency added that Govt policy measures would be limited to support business investment and significantly broaden the tax base. Foreign Currency rating was maintained at existing grade.
FII’S bought higher qty of Rupee debt papers as hedging cost declined.
-USDINR is at 71.23. Y’day’s close was 70.96.
-Indian Equity indices decline marginally.
-Indian 10 year G-SEC yield is at 6.54%.
-USDINR 1 yr fwd premia is at 4.03%.
USDINR @ 71.23, EUR/USD 1.1051, GBP/USD @ 1.2814, USD/JPY @ 109.25, EUR/INR @ 78.71, GBP/INR @ 91.27,
JPY/INR @ 65.20.
Gold@1469, WTI Crude @ 57, Nifty @ 11965(-47), 10 Year G-SEC @ 6.54.