Major developments:

USD is now at 81.43. USDINR opened at 81.21. Fwd premia – 1 year fwdpremia is at 1.90% p.a. RBI’s 3 day meeting begins today. RBI is set to hike rate by 35 bps.USD did not benefit from robust employment data as market is obsessed with slow down inrate hikes. US CPI and FOMC meeting of next week are significant events in coming period.US ISM (services) data is another key data release for the day. Crude prices can remainvolatile as Western nations cap Russian Oil export prices. 
RBI ref rate:

-USDINR is at 81.43 .Prior day’s close was 81.31.
-Indian Equity indices correct lower marginally.

-Indian 10 year G-SEC yield is at 7.22%.
-USDINR 1 yr fwd premia is at 1.90%.

USDINR @ 81.43, EUR/USD@ 1.0580, GBP/USD @ 1.2378, USD/JPY @ 134.41, EUR/INR @ 86.15, GBP/INR @ 100.48, JPY/INR @ 60.33.
Gold@1821, Brent Crude @ 86.15, Nifty @ 18595(-100), 10 Year G-SEC @ 7.22%.

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