Major developments:

USD is now at 81.54. USDINR opened at 81.37.

Fwd premia – 1 year fwd premia is at 2.34% p.a. 

Rupee has been gaining due to IPO related inflows.

Weakness in USD index has also contributed to Rupee gains.

German yields have risen as ECB officials sounded hawkish on interest rates.

This has supported EUR to rise marginally above parity. 

China has maintained that it will continue with its covid policy.

Many regions in China are witnessing outbursts of infections again.

Crude has retraced by 3% since y’day.

US CPI is key data event for the week.

Indian CPI and IIP data are also awaited.

Indian FX market was closed y’day. 

-USDINR is at 81.55 .Prior day’s close was 81.92.

-Indian Equity indices climb marginally.

-Indian 10 year G-SEC yield is at 7.39%.

-USDINR 1 yr fwd premia is at 2.34%.

USDINR @ 81.54, EUR/USD@ 1.0072, GBP/USD @ 1.1547, USD/JPY @ 145.51, EUR/INR @ 82.13, GBP/INR @ 94.17

JPY/INR @ 56.04

Gold@1712, Brent Crude @ 95, Nifty @ 18221(+17), 10 Year G-SEC @ 7.39%.

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