FX RATES AND USDINR FWDS :

Major developments:

USD is now at 74.23. USDINR opened at 74.22. Expected range: 74.15-74.35. Strong US employment data has weakened Euro and Asian Currencies against USD. INR is steady. IPO flows worth USD 1400 mn is expected this week. This is Rupee positive. But overall USD’S movement against Asian peers may nullify the positive impact due to inflows and lower crude prices. USDINR could target 74.45/74.60 with strong support at 74.05.

RBI ref rates:

-USDINR is at 74.23. Prior day’s close was 74.16.

-Indian Equity indices climb marginally.

-Indian 10 year G-SEC yield is at 6.23%.

-USDINR 1 yr fwd premia is at 4.36%.

USDINR @ 74.23, EUR/USD 1.1761, GBP/USD @ 1.3870, USD/JPY @ 110.22, EUR/INR @ 87.31, GBP/INR @ 102.96, JPY/INR @ 67.53.

Gold@1741, WTI Crude @ 66.97, Nifty @ 16284(+44), 10 Year G-SEC @ 6.23%.

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