FX RATES AND USDINR FWDS

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.

RBI REF RATES:
 

-USDINR is at 74.97 .Prior day’s close was 74.81.

 -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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