Major developments:
USD is now at 73.84. USDINR opened at 73.86. Expect 73.75-73.95 range for the day. USDINR fwd premia has declined with 1 year falling back to 5% levels.
RBI Governor announced :
1)New liquidity measures
2)term financing facilities for the healthcare sector
3) Companies under 25 cr loan to avail restructuring of loans till Sept 2021,
4)incentives for banks against surplus liquidity if they disburse term loans for the health care sector. 5) State Govts to draw more under Overdraft.
He said there is no deviation of growth target, but expressed apprehensions over inflation due to supply disruptions. US Treasury secy said that interest rates may go up due to economic buyoancy created by fiscal measures.
RBI ref rates:
-USDINR is at 73.84. Prior day’s close was 73.86.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 6%.
-USDINR 1 yr fwd premia is at 5.02%.
USDINR @ 73.84, EUR/USD 1.2020, GBP/USD @ 1.3906, USD/JPY @ 109.32, EUR/INR @ 88.75, GBP/INR @ 102.67, JPY/INR @ 67.54.
Gold@1780, WTI Crude @ 66.25, Nifty @ 14570(+75), 10 Year G-SEC @ 6%.
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