Major developments:

USD is now at 71.37. Rupee opened at 71.41. Expect 71.30-71.50 range for the day. Indian

Equity indices are down as banking stocks are under pressure on fear of bank loan defaults

by telecom companies due to AGR payments.

EU and German Zew data are the focus data events for the day.

-USDINR is at 71.37. Y’day’s close was 71.29.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 6.40%.

-USDINR 1 yr fwd premia is at 3.80%.

USDINR @ 71.37, EUR/USD 1.0830, GBP/USD @ 1.2996, USD/JPY @ 109.75, EUR/INR @ 77.29, GBP/INR @ 92.75

JPY/INR @ 65.02.

Gold@1586, WTI Crude @ 51.93, Nifty @ 11955(-90), 10 Year G-SEC @ 6.40.