Major developments:

USD is now at 74.17. Rupee opened at 74.28. Expect 74.05-74.35 range for the day.

Global markets are in free fall as most countries banned entry of foreign nationals. US

imposed trade restrictions on EU emanating products.

-USDINR is at 74.17. Y’day’s close was 73.64.

-Indian Equity indices decline over 7%.

-Indian 10 year G-SEC yield is at 6.20%.

-USDINR 1 yr fwd premia is at 3.98%.

USDINR @ 74.17, EUR/USD 1.1295, GBP/USD @ 1.2815, USD/JPY @ 103.88, EUR/INR @ 83.77, GBP/INR @ 95.04 , JPY/INR @ 71.40.

Gold@1633, WTI Crude @ 31.85, Nifty @ 9700(-758), 10 Year G-SEC @ 6.20.