USD is now at 79.40. USDINR opened at 79.21. Today, the pair could trade in the 79.20-79.55 Zone. 1 year fwd premia is at 3.08% p.a.
RBI MPC meeting will conclude on Aug 5th and rate decision will be known on 5 th Aug. RBI is expected to hike rate between 30-50bps.USDINR remains very volatile with V-Shaped movement.
In the last 4 sessions USDINR has moved One Rupee on both sides. US economic data n services was better than expected. But there was no impact on yields.
Rupee’s movement remains hostage to US interest rate movements. Crude fell by USD 4 y’day.
RBI REF RATES:
-USDINR is at 79.40 .Prior day’s close was 79.16.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.22%.
-USDINR 1 yr fwd premia is at 3.08%.
USDINR @ 79.40, EUR/USD 1.0166, GBP/USD @ 1.2156, USD/JPY @ 133.71, EUR/INR @ 80.73, GBP/INR @ 96.54, JPY/INR @ 59.40.
Gold@1787, Brent Crude @ 97, Nifty @ 17414(+27), 10 Year G-SEC @ 7.22%.
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