Major developments:USD is now at 77.76. USDINR opened at 77.71. Today, the pair could trade in the 77.59-77.87Zone.  Rupee declined as Crude rallied further to cross USD 112/bbl. RBI continues to sell USD to contain Rupee fall. 1 Year fwd premia declined to 3.6% as markets firmed up the idea of 50 bps rate increase by RBI in June meeting.Focus is on US Fed Chairman’s speech and ECB Chairperson’s speech. US retail sales data is a key event.

RBI REF RATES: 14/5,15/5,16/5- Holidays

-USDINR is at 77.76 .Prior day’s close was 77.44.
-Indian Equity indices climb.-Indian 10 year G-SEC yield is at 7.37%.
-USDINR 1 yr fwd premia is at 3.56%.USDINR @ 77.76, EUR/USD 1.0441, GBP/USD @ 1.2341, USD/JPY @ 129.41, EUR/INR @ 81.20, GBP/INR @ 95.98JPY/INR @ 60.10Gold@1822, WTI Crude @ 111.57, Nifty @ 15963(+121), 10 Year G-SEC @ 7.37%.

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