USD is now at 78.74. USDINR opened at 78.93. Today, the pair could trade in the 78.50-78.94 Zone. 1 year fwd premia is at 3.20% p.a. US employment data, BOE meeting and Opec decision on production are key events for the week. RBI MPC meeting will conclude on Aug 5th and rate decision will be known on 5 th Aug. RBI is expected to hike rates between 30-50 bps.
Indian PMI (mfrg) climbed to 56.4 and GST collections was at 1.48 lac Cr. US Yields fell
further, providing support to Asian Currencies. Decline in Crude and inflows due to 5-G
auction also contributed to Rupee’s steep climb in the last two days.
RBI REF RATES:
-USDINR is at 78.74 .Prior day’s close was 79.02.
-Indian Equity indices decline.
-Indian 10 year G-SEC yield is at 7.22%.
-USDINR 1 yr fwd premia is at 3.20%.
USDINR @ 78.74, EUR/USD 1.0270, GBP/USD @ 1.2245, USD/JPY @ 130.78, EUR/INR @ 80.83, GBP/INR @ 96.41
JPY/INR @ 60.19.
Gold@1789, Brent Crude @ 99.20, Nifty @ 17247(-94), 10 Year G-SEC @ 7.22%.
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