Major developments:

USD is now at 74.09. Rupee opened at 74.39. Expect 73.98-74.50 range for the day.

RBI intervened to sell USD at 74.50. Indian Equity indices opened 10% lower and trading was halted. On resumption, Financial institutions bought to stabilise market. Global Equities slumped again Y’day.

-USDINR is at 74.09. Y’day’s close was 74.21.

-Indian Equity indices decline 0.56%. Recovers from 10% fall.

-Indian 10 year G-SEC yield is at 6.30%.

-USDINR 1 yr fwd premia is at 3.94%.

USDINR @ 74.09, EUR/USD 1.1197, GBP/USD @ 1.2548, USD/JPY @ 105.85, EUR/INR @ 82.95, GBP/INR @ 92.96, JPY/INR @ 69.99.

Gold@1583, WTI Crude @ 32.82, Nifty @ 9540(-50), 10 Year G-SEC @ 6.30.