18/03/2021

Major developments:

USD is now at 72.44. USDINR opened at 72.48. Expect 72.40-72.60 range for the day. As per FED, US GDP is expected to climb by 6.5% in 2021. Though inflation could surge to 2.4%, it is considered temporary. According to median estimated. interest rates will remain near Zero till 2022. Equity markets have shown tepid rise. Slow vaccination efforts in EU, surging infections in India and parts of Europe have made markets cautious.

-USDINR is at 72.44. Prior day’s close was 72.55.

-Indian Equity indices climb.

-Indian 10 year G-SEC yield is at 6.19%.

-USDINR 1 yr fwd premia is at 4.92%.

USDINR @ 72.44, EUR/USD 1.1961, GBP/USD @ 1.3950, USD/JPY @ 108.92, EUR/INR @ 86.65, GBP/INR @ 101.05, JPY/INR @ 66.50.

Gold@1748, WTI Crude @ 64.22, Nifty @ 14784(+62), 10 Year G-SEC @ 6.19%.