Major developments:

USD is now at 76.49. Rupee opened at 76.51. Expect 76.40-76.65 range for the day.

Indian Equity indices are trading higher.

RBI cut reverse repo by 25 bps to 3.75%. RBI also announced another tranche of Rs 50,000

Cr liquidity facility for NBFC’S. NPA classification norm has been revised to exclude assets

under moratorium period. Special refinancing facilities of Rs 50000 Cr for SIDBI and

NABARD and NHB was announced. State Govts can use extra facility of 60% of their existing

limits to fund their requirements in fighting the virus.

-USDINR is at 76.49. Prior day’s close was 76.87.

-Indian Equity indices climb 2.42%.

-Indian 10 year G-SEC yield is at 6.43%.

-USDINR 1 yr fwd premia is at 3.94%.

USDINR @ 76.49, EUR/USD 1.0870, GBP/USD @ 1.2494, USD/JPY @ 107.73, EUR/INR @ 83.14, GBP/INR @ 95.56

JPY/INR @ 71.

Gold@1704, WTI Crude @ 19.60, Nifty @ 9210(+217), 10 Year G-SEC @ 6.44.