Major developments:

USD is now at 82.56. USDINR opened at 82.55.

Fwd premia – 1 year fwd premia is at 2.03% p.a.  

Rupee gained y’day due to inflows attributed to foreign banks selling

USD for its clients.US ADP employment report and weekly jobless claims were better

than expected, reinforcing Fed’s view to keep financial conditions restrictive.

USD gained after y’day’s strong US data. US Non farm payrolls data is also expected to be better than expected.

US markets led by Microsoft slumped. Crude Oil is down, below USD 80. EU CPI

data is expected to moderate.

CPI data is due for release today.

RBI ref rate:

-USDINR is at 82.56 .Prior day’s close was 82.55.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 7.34%.

-USDINR 1 yr fwd premia is at 2.03%.

USDINR @ 82.56, EUR/USD@ 1.0529, GBP/USD @ 1.1932, USD/JPY @ 133.81, EUR/INR @ 86.95, GBP/INR @ 98.53,JPY/INR @ 61.72

Gold@1843, Brent Crude @ 79.53, Nifty @ 17950(-42), 10 Year G-SEC @ 7.34%.

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