Major developments:

USD is now at 73.35. Rupee opened at 73.08. Expect 72.90-73.60 range for the day. Rupee is under pressure due to corona virus hit in parts of India. RBI says that it is ready to take appropriate action to meet economic implications of corona virus. 

US Fed cut rates by 50 bps. More central banks are to follow suit. Global Equity markets shrugged off positive news and focused on spread of corona virus. 

-USDINR is at 73.35. Y’day’s close was 73.30.

-Indian Equity indices decline marginally.

-Indian 10 year G-SEC yield is at 6.35%.

-USDINR 1 yr fwd premia is at 4.07%.

USDINR @ 73.35, EUR/USD 1.1160, GBP/USD @ 1.2811, USD/JPY @ 107.40, EUR/INR @ 81.85, GBP/INR @ 93.96, JPY/INR @ 68.30.

Gold@1643, WTI Crude @ 48.03, Nifty @ 11292(-11), 10 Year G-SEC @ 6.28.