FX RATES AND USDINR FWDS :

Major developments:

USD is now at 81.67. USDINR opened at 81.61. Fwd premia – 1 year fwdpremia is at 2.35% p.a. 
-Rupee is range bound between 81.50 and 81.75, in the last few days.
-Indian Indices trade flat. Union budget will be the most important financial event for markets.
-Indian Equity markets are focused on Adani group developments.

-US FOMC meeting, ISM and employment data are key events for USD’S trend against majors.
-Fed will maintain hawkish tone, to lower expectations on easing of rates.
-ECB is expected to deliver 50 bps rate hike on Thursday. BOE is also expected to raise rates 
by 50 bps.

RBI ref rate:

-USDINR is at 81.67 .Prior day’s close was 81.52.
-Indian Equity indices trade flat.-Indian 10 year G-SEC yield is at 7.38%.
-USDINR 1 yr fwd premia is at 2.35%.

USDINR @ 81.67, EUR/USD@ 1.0877, GBP/USD @ 1.2401, USD/JPY @ 129.50, EUR/INR @ 88.83, GBP/INR @ 101.28, JPY/INR @ 62.56.
Gold@1928, Brent Crude @ 86.20, Nifty @ 17612(0), 10 Year G-SEC @ 7.38%.

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