Major developments:

USD is now at 81.06. USDINR opened at 81.06.   1 year fwd premia is at 2.80% p.a.

US, EU and UK PMI(mfrg) and PMI(services) data are key data releases for the day.

RBI sold small qty of USD at around 81.20. Important resistance is at 81.25-81.30 zone. 

Supports are at 80.85, 80.60. US 10 Year Yield spiked to 3.75%. Indian Yield has also rallied to

7.38%. RBI is also likely to raise rates by 50 bps in next meeting.

-USDINR is at 81.06 .Prior day’s close was 80.73.

-Indian Equity indices declines..

-Indian 10 year G-SEC yield is at 7.38%.

-USDINR 1 yr fwd premia is at 2.71%.

 USDINR @ 81.06, EUR/USD@ 0.9828, GBP/USD @ 1.1237, USD/JPY @ 142.22, EUR/INR @ 79.67, GBP/INR @ 91.10 JPY/INR @ 57.

Gold@1677, Brent Crude @ 90, Nifty @ 17476(-153), 10 Year G-SEC @ 7.38%.

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