FX RATES AND USDINR FWDS

Major developments:

USD is now at 76.04. USDINR opened at 76.06. Expect 75.90- 76.20 range for the day. Russian attack on an important nuclear power plant in Ukraine triggered another crisis in financial markets.

Crude rallied back after softening on reports that Iran may be allowed to supply 1 mbpd. Fed Chairman has cautioned that steep rise in Oil price could push inflation up by 0.9% and drag growth by 0.6%.

High inflation, supply chain problems and alternate financing mechanism to deal with Russian sanctions are headwinds for growth.

-USDINR is at 76.04 .Prior day’s close was 75.91.

-Indian Equity indices decline 1.9%.

-Indian 10 year G-SEC yield is at 6.81%.

-USDINR 1 yr fwd premia is at 4.08%.

USDINR @ 76.04, EUR/USD 1.1035, GBP/USD @ 1.3346, USD/JPY @ 115.44, EUR/INR @ 83.90, GBP/INR @ 101.48

JPY/INR @ 65.88

Gold@1941, WTI Crude @ 110, Nifty @ 16181(-316), 10 Year G-SEC @ 6.81%

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