06/03/2020

Major developments:

USD is now at 73.78. Rupee opened at 73.90. Expect 73.55-74.05 range for the day. Rupee is under pressure due to negative sentiments surrounding Yes bank moratorium and corona virus spread.

Global Equities continued to reel under corona virus spread, even as US 10 Year Treasury Yield sunk to 0.83%. OPEC has proposed 1.5 mbpd production cut to stabilise price.

-USDINR is at 73.78. Y’day’s close was 73.32.

-Indian Equity indices decline steeply. Yes bank shares down 50% to Rs 20. SBI is down 7%.

-Indian 10 year G-SEC yield is at 6.17%.

-USDINR 1 yr fwd premia is at 3.86%.

USDINR @ 73.78, EUR/USD 1.1233, GBP/USD @ 1.2955, USD/JPY @ 105.81, EUR/INR @ 82.87, GBP/INR @ 95.58 , JPY/INR @ 69.72.

Gold@1679, WTI Crude @ 45.45, Nifty @ 10900(-372), 10 Year G-SEC @ 6.17.