Major developments:

USD is now at 81.37. USDINR opened at 81.26. Fwd premia – 1 year fwd

premia is at 2.18% p.a. Indian CPI moderated to 5.7%, due to lower Food prices. Core inflation

is still above 6%. IIP grew by 7.1% with mfrg climbing 6.1%. High frequency indicators

suggest robust activity in Dec also. 

US CPI climbed 6.5% y/y and declined -0.1% m/m. USD declined as US treasury yields fell,

anticipating softer Fed moves in future.

RBI ref rate:

-USDINR is at 81.37 .Prior day’s close was 81.55.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 7.28%.

-USDINR 1 yr fwd premia is at 2.18%.

USDINR @ 81.37, EUR/USD@ 1.0845, GBP/USD @ 1.2195, USD/JPY @ 129.11, EUR/INR @ 88.26, GBP/INR @ 99.25, JPY/INR @ 63.04

Gold@1900, Brent Crude @ 83.70, Nifty @ 17784(-74), 10 Year G-SEC @ 7.28%.

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