Major developments:

USD is now at 71.53. Rupee opened at 71.48. Expect 71.35-71.65 range for the day. 

RBI meeting is the focus event for the day. RBI is expected to cut rates by 25 bps due to 6  Year low in GDP. 

-USDINR is at 71.53. Y’day’s close was 71.53.

-Indian Equity indices climb marginally.

-Indian 10 year G-SEC yield is at 6.46%.

-USDINR 1 yrfwdpremia is at 3.78%.

USDINR @ 71.53, EUR/USD 1.1083, GBP/USD @ 1.3114, USD/JPY @ 108.87, EUR/INR @ 79.27, GBP/INR @ 93.80, JPY/INR @ 65.70.

Gold@1480, WTI Crude @ 58.20, Nifty @ 12062(+19), 10 Year G-SEC @ 6.46.