Major developments:

USD is now at 79.75. USDINR opened at 79.78. Today, the pair could trade in the 79.70-79.85Zone.  1 year fwd premia is at 3.11% p.a. US GDP and EU CPI are keyevents for the week. FOMC hiked rates by 75 bps and indicated one more big hike in Sept. Fed could slow theprocess of rate hikes post Sept to gauge impact on economy and inflation. Global Equitymarkets have surged post Fed decision. USD has corrected mildly lower against majors.

RBI REF RATES: 

-USDINR is at 79.75 .Prior day’s close was 79.90.
-Indian Equity indices climb. 

-Indian 10 year G-SEC yield is at 7.34%.
-USDINR 1 yr fwd premia is at 3.11%.

USDINR @ 79.75, EUR/USD 1.0223, GBP/USD @ 1.2176, USD/JPY @ 135.40, EUR/INR @ 81.52, GBP/INR @ 97.12JPY/INR @ 58.94.Gold@1735, Brent Crude @ 102.50, Nifty @ 16862(+20), 10 Year G-SEC @ 7.34%.

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