Major developments:

USD is now at 82.49. USDINR opened at 82.66.

Fwd premia – 1 year fwd premia is at 1.70% p.a. 

Rupee declined past 82.70. 

RBI hiked Repo rate by 35 bps to 6.25%.

GDP growth for FY 22-23 has been lowered from 7% to 6.8%.

Inflation is expected to be 6.7%.

FX reserves has jumped to USD 561.7 bn from USD 527 bn.

FDI inflows is around USD 22.7 bn in Apr-Oct period.

FII inflows is around USD 11.5 bn since July.

RBI Governor said that Indian economy is resilient when compared to other major

economies. He said that fight against inflation is far from over.

He added that inflows will be robust once Fed indicates terminal rate.

He said that transmission of rate hikes in deposit and lending rates have been very satisfactory.

RBI ref rate: 

-USDINR is at 82.49 .Prior day’s close was 82.61.

-Indian Equity indices correct lower.

-Indian 10 year G-SEC yield is at 7.29%.

-USDINR 1 yr fwd premia is at 1.70%.

USDINR @ 82.49, EUR/USD@ 1.0468, GBP/USD @ 1.2136, USD/JPY @ 137.25, EUR/INR @ 86.35, GBP/INR @ 100.10 JPY/INR @ 60.10 Gold@1786, Brent Crude @ 79.70, Nifty @ 18576(-66), 10 Year G-SEC @ 7.29%.

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