Major developments:
USD is now at 72.37. USDINR opened at 72.40. Rupee is expected to remain firm till 72.75 is not breached. Expect 72.25-72.40 range for the day.
Indian Q4 GDP is awaited today. RBI Credit policy meeting is taking place this week. FM has
said that she would wait to see if stimulus is required to overcome negative effect of covid-2.
US ISM (mfrg and services) and employment data are key global data events. Most EM
Countries are allowing their Currencies to gain to combat imported inflation.
RBI ref rates:
-USDINR is at 72.37. Prior day’s close was 72.43.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 6.02%.
-USDINR 1 yr fwd premia is at 5.25%.
USDINR @ 72.37, EUR/USD 1.2199, GBP/USD @ 1.4194, USD/JPY @ 109.66, EUR/INR @ 88.28, GBP/INR @ 102.71 JPY/INR @ 65.96
Gold@1910, WTI Crude @ 66.75, Nifty @ 15507(+71), 10 Year G-SEC @ 6.02%.
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