FX RATES AND USDINR FWDS

Major developments:

USD is now at 74.70. Rupee opened at 74.70. Expect 74.70-74.85 range for the day.

RBI has assessed that bad loans in banking system could soar to 15% by Mar 2021. Banking stocks decline on this report. US FOMC meeting is the focus this week. Fed’s assessment is to be keenly watched.

-USDINR is at 74.70. Prior day’s close was 74.83.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 5.84%.

-USDINR 1 yr fwd premia is at 3.90%.

USDINR @ 74.70, EUR/USD 1.1701, GBP/USD @ 1.2833, USD/JPY @ 105.61, EUR/INR @ 87.42, GBP/INR @ 95.89, JPY/INR @ 70.45.

Gold@1929, WTI Crude @ 41.27, Nifty @ 11136(-58), 10 Year G-SEC @ 5.84.

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