Major developments:

USD is now at 81.53. USDINR opened at 81.67.

Fwd premia – 1 year fwd premia is at 2.10% p.a. 

Rupee has gained 42 ps from its recent low of 81.92.

Chinese Covid concerns and Fed members supporting smaller rate hikes are dominating market developments.

Indian Q2 Corporate results have shown that Banking and Auto sector profits 

are on the upswing. Nifty 50 EBITDA has climbed 9% y/y.

RBI ref rate:

-USDINR is at 81.53 .Prior day’s close was 81.62.

-Indian Equity indices trade flat.

-Indian 10 year G-SEC yield is at 7.25%.

-USDINR 1 yr fwd premia is at 2.10%.

USDINR @ 81.53, EUR/USD@ 1.0424, GBP/USD @ 1.2125, USD/JPY @ 138.47, EUR/INR @ 84.98, GBP/INR @ 98.84, JPY/INR @ 58.88

Gold@1759, Brent Crude @ 85.65, Nifty @ 18470(-13), 10 Year G-SEC @ 7.25%.

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