Major developments:

USD is now at 71.84. Rupee opened at 71.89. Expect 71.65-71.90 range for the day. Gold has climbed steeply. Coronavirus spread to Korea and climbing cases in China has hit Global equities and EM Currencies.

-USDINR is at 71.84. Thursday’s close was 71.67.

-Indian Equity indices decline steeply.

-Indian 10 year G-SEC yield is at 6.33%.

-USDINR 1 yr fwd premia is at 3.85%.

USDINR @ 71.89, EUR/USD 1.0817, GBP/USD @ 1.2938, USD/JPY @ 111.57, EUR/INR @ 77.71, GBP/INR @ 92.94, JPY/INR @ 64.40.

Gold@1661, WTI Crude @ 52.20, Nifty @ 11948(-131), 10 Year G-SEC @ 6.33.