USD is now at 81.68. USDINR opened at 81.59. Fwd premia – 1 year fwdpremia is at 2.32% p.a.
-IMF projects 6.8% GDP growth for India in this fiscal and 6.1% in next fiscal. Global GDP is expected to moderate down to 2.9%. India and China will contribute 50% of Global GFP growth.
-Rupee is range bound between 81.50 and 81.75, in the last few days.
-Indian Indices decline. 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 81.68 .Prior day’s close was 81.50.
-Indian Equity indices decline.
-Indian 10 year G-SEC yield is at 7.36%.
-USDINR 1 yr fwd premia is at 2.32%.
USDINR @ 81.68, EUR/USD@ 1.0842, GBP/USD @ 1.2338, USD/JPY @ 130.34, EUR/INR @ 88.56, GBP/INR @ 100.78, JPY/INR @ 62.67.
Gold@1920, Brent Crude @ 84, Nifty @ 17552(-97), 10 Year G-SEC @ 7.36%.
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