Major developments:
USD is now at 73.86. USDINR opened at 73.90. Expect 73.80-74.15 range for the day. USDINR fwd premia has climbed steeply due to spot selling and fwd buying by some corporates to tear nostro account balance. RBI has instructed a few corporates to clear nostro holdings.
May premia is at around 60 ps and 1 year premia is at 3.95.
RBI REF RATES
-USDINR is at 73.86. Prior day’s close was 73.93.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 6.02%.
-USDINR 1 yr fwd premia is at 5.35%.
USDINR @ 73.86, EUR/USD 1.2037, GBP/USD @ 1.3876, USD/JPY @ 109.34, EUR/INR @ 88.92, GBP/INR @ 102.51, JPY/INR @ 67.55
Gold@1785, WTI Crude @ 64.48, Nifty @ 14685(+51), 10 Year G-SEC @ 6.02%.
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