Major developments:

USD is now at 82.68. USDINR opened at 82.65.

Fwd premia – 1 year fwd premia is at 2.38% p.a. 

Fed meeting outcome is awaited. Strong economic data may force Fed

to maintain hawkish stance.

If Fed does not indicate final rate in this tightening cycle, USD may climb steeply and asset markets may begin new phase of decline.

RBI ref rate:

-USDINR is at 82.68 .Prior day’s close was 82.70.

-Indian Equity indices decline marginally.

-Indian 10 year G-SEC yield is at 7.41%.

-USDINR 1 yr fwd premia is at 2.38%.

USDINR @ 82.68, EUR/USD@ 0.9888, GBP/USD @ 1.1511, USD/JPY @ 147.59, EUR/INR @ 81.76, GBP/INR @ 95.17, JPY/INR @ 56.02.

Gold@1653, Brent Crude @ 95.75, Nifty @ 18127(-16), 10 Year G-SEC @ 7.41%.

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