11/05/2020

Major developments:

USD is now at 75.70. Rupee opened at 75.58. Expect 75.55-75.80 range for the day.

GOvt announced Rs 12 lac Cr borrwoing for this year. This has pushed up 10 year yields.

New stimulus package is expected to be around 4 lac Cr. Govt has already announced Rs 1.7

lac Cr stimulus last month. Fiscal deficit is expected to be at 5.75% of GDP. Measures will

target MSME’S, migrant workers and DBT. Rating agencies are expected to downgrade India

after the announcement. This may exert temporary pressure on Rupee.

-USDINR is at 75.65. Prior day’s close was 75.55.

-Indian Equity climb 1.33%.

-Indian 10 year G-SEC yield is at 6.21%.

-USDINR 1 yr fwd premia is at 4%.

USDINR @ 75.65, EUR/USD 1.0845, GBP/USD @ 1.2424, USD/JPY @ 106.93, EUR/INR @ 82.05, GBP/INR @ 94

JPY/INR @ 70.58.

Gold@1707, WTI Crude @ 24.45, Nifty @ 9378(+126), 10 Year G-SEC @ 6.21.