14/09/2018

Major developments:

Rupee is at 71.70.  Rupee has recovered over One Rupee since Friday on reports that PM has called for a meeting to discuss economic issues. Markets await outcome of the meeting. Expect measures to encourage inflows like FDI liberalisation, bond scheme for NRI’S and even a 50 bps rate hike by RBI.

-INR is at 71.80. Wenesday’s close was 72.18. 

-Indian Equity indices climb.

-Indian 10 year G-SEC yield is at 8.11%. 

-USDINR 1 yr fwd premia is at 4.35%. 

USDINR @ 71.79, EUR/USD 1.1695, GBP/USD @ 1.3117, USD/JPY @ 111.84, EUR/INR @ 83.95, GBP/INR @ 94.16, JPY/INR @ 64.18.

Gold@1205, WTI Crude @ 68.80, Nifty @ 11450 (+81), 10 Year G-SEC @ 8.11.