FX RATES AND USDINR FWDS

Major developments:

USD is now at 75.37. USDINR opened at 75.39. Expect 75.15- 75.50 range for the day.

US CPI climbed 7.2% y/y. Fed member called for aggressive rate hikes.

Equities wobbled, USD gained against Euro and Rupee fell. However, fwd premia in USDINR has fallen steeply to 3.88% p.a.

RBI REF RATES:

-USDINR is at 75.37 .Prior day’s close was 74.95.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 6.75%.

-USDINR 1 yr fwd premia is at 3.88%.

USDINR @ 75.37, EUR/USD 1.1385, GBP/USD @ 1.3531, USD/JPY @ 116.10, EUR/INR @ 85.82, GBP/INR @ 101.97

JPY/INR @ 64.94.

Gold@1825, WTI Crude @ 89.42, Nifty @ 17316(-288), 10 Year G-SEC @ 6.75%.

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