24/09/2020

Major developments:

USD is now at 73.84. USDINR opened at 73.80. Expect 73.65-73.90 range for the day. Global markets are under pressure due to surge in infection in parts of Europe. Fed Vice Chairman said that the economy is still in deep hole and requires fiscal support. Some believe that markets have overpriced recovery, estimating the economic decline as cyclical.

-USDINR is at 73.85. Prior day’s close was 73.57.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 5.99%.

-USDINR 1 yr fwd premia is at 4.20%.

USDINR @ 73.84, EUR/USD 1.1648, GBP/USD @ 1.2693, USD/JPY @ 105.44, EUR/INR @ 86.02, GBP/INR @ 93.74, JPY/INR @ 70.04.

Gold@1854, WTI Crude @ 39.40, Nifty @ 10938(-194), 10 Year G-SEC @ 5.99%.

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