FX RATES AND USDINR FWDS

Major developments:

USD is now at 72.87. USDINR opened at 72.98. Expect 72.65-73 range for the day. USDINR fwd premia softened further with 1 year moving down to 4.75%. Equity and commodity markets continue to be volatile. USD gained against majors due to rally in US 1 year yield. Fed Chairperson said that recent rise in yield has been noted, but assured that bond purchases and lower rates will be intact. Asian and Global indices trended lower.

Crude Oil climbed as Saudi did not agree for increase in supply. Metals continued to exhibit high volatility with two way movement.

-USDINR is at 72.87. Prior day’s close was 72.84.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 6.23%.

-USDINR 1 yr fwd premia is at 4.74%.

USDINR @ 72.87, EUR/USD 1.1960, GBP/USD @ 1.3887, USD/JPY @ 108.03, EUR/INR @ 87.15, GBP/INR @ 101.18, JPY/INR @ 67.45.
Gold@1690, WTI Crude @ 64.30, Nifty @ 14979(-101), 10 Year G-SEC @ 6.23%.

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