Major developments:

USD is now at 79.97. USDINR opened at 79.91. Today, the pair could trade in the 79.85-80.06

Zone.  1 year fwd premia is at 3.12% p.a. Govt slashed Windfall tax on crude production to

17000/tonne from Rs 23,250. Export duty on Petrol is scrapped and duty on diesel and ATF is

slashed by Rs 2/. Special additional excise duty levied on exports from SEZ zone is

exempted. Indian Equity indices led by Reliance has climbed steeply on this news.

Focus is on ECB meeting.

RBI REF RATES: 

-USDINR is at 79.97 .Prior day’s close was 79.95.

-Indian Equity indices climb.

-Indian 10 year G-SEC yield is at 7.45%.

-USDINR 1 yr fwd premia is at 3.12%.

USDINR @ 79.97, EUR/USD 1.0246, GBP/USD @ 1.2033, USD/JPY @ 138.02, EUR/INR @ 81.95, GBP/INR @ 96.22, JPY/INR @ 57.94.

Gold@1710, Brent Crude @ 106.80, Nifty @ 16527(+190), 10 Year G-SEC @ 7.45%.

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