17/08/2020
Major developments:
USD is now at 74.80. Rupee opened at 74.85. Expect 74.70-74.85 range for the day.
Indian Trade deficit was reported at USD 4.8 bn, as against a surplus of 0.8 bn in June. However, the deficit was lower compared to July 2019. Exports declined 10.2% y/y to USD 23.6 bn, and Imports declined 28.4% y/y to USD 28.5 bn. In Apr-July period, trade deficit stood at USD 13.9 bn (USD 59.4 bn in the same period last year), with exports at USD 75 bn (down 30.2% y/y) and Imports at 88.9 bn (down 46.7% y/y).
FX reserves climbed to USD 538 bn with RBI accumulating USD 60 bn in a year.

-USDINR is at 74.80. Prior day’s close was 74.90.
-Indian Equity indices climb marginally.

-Indian 10 year G-SEC yield is at 5.96%.
-USDINR 1 yr fwd premia is at 3.94%.
USDINR @ 74.80, EUR/USD 1.1857, GBP/USD @ 1.3089, USD/JPY @ 106.58, EUR/INR @ 88.67, GBP/INR @ 97.89, JPY/INR @ 70.30.
Gold@1953, WTI Crude @ 42.41, Nifty @ 11210(+32), 10 Year G-SEC @ 5.96.

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