Major developments:
USD is now at 74.97. USDINR opened at 74.87. Expect 74.85- 75.05 range for the day.
RBI maintained status quo on rates and maintained that accommodative stance is warranted to aid growth. Inflation is expected to be 5.3% for this fiscal and taper off gradually to 4% in 2022-23. GDP growth is expected to be 7.8% in 2022-23. 10 Year yield has fallen to 6.74% and USDINR fwd premium has declined to 4.22% p.a. for 12 months. Indian Equity indices have
climbed steeply.
US CPI data is expected today.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 6.74%.
-USDINR 1 yr fwd premia is at 4.25%.
USDINR @ 74.97, EUR/USD 1.1427, GBP/USD @ 1.3530, USD/JPY @ 115.63, EUR/INR @ 85.66, GBP/INR @ 101.42
JPY/INR @ 64.83.
Gold@1834, WTI Crude @ 89.70, Nifty @ 17570(+106), 10 Year G-SEC @ 6.74%
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