Major developments:

USD is now at 72.35. USDINR opened at 72.31. Expect 72.30-72.50 range for the day.
Indian GDP data to be released tomorrow. Growth is estimated to be between 0.8 to 1.3%.

USDINR fwd premia has softened. RBI Governor said y’day that liquidity is comfortable and will not withdraw softer stance prematurely. Indian banking stocks soared as Govt has now permitted private banks to participate in Govt transactions.

-USDINR is at 72.35. Prior day’s close was 72.35.

-Indian Equity indices climb more than 1%.

-Indian 10 year G-SEC yield is at 6.15%.

-USDINR 1 yr fwd premia is at 5.10%.

USDINR @ 72.35, EUR/USD 1.2182, GBP/USD @ 1.4165, USD/JPY @ 105.88, EUR/INR @ 88.15, GBP/INR @ 102.50 JPY/INR @ 68.34.

Gold@1795, WTI Crude @ 63.27, Nifty @ 15131(+151), 10 Year G-SEC @ 6.15%.

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