Major developments:

USD is now at 82.41. USDINR opened at 82.29. Fwd premia – 1 year fwdpremia is at 2.35% p.a. 
-Rupee declines, despite softness in USD Index.
-CPI inflation eased moderately to 6.55% in Feb. In Jan. it was at 6.52%. Data is still above RBI’S comfort level of 2-6%.
-Focus is on US CPI.
-US Banking sector is under pressure, despite reassuring steps by Fed and FDIC. Markets are pricing rate pause or 25 bps rate hike in March 22nd meeting.

RBI ref rate: 

-USDINR is at 82.41 .Prior day’s close was 82.13.
-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 7.35%.
-USDINR 1 yr fwd premia is at 2.33%.

USDINR @ 82.41, EUR/USD@ 1.0703, GBP/USD @ 1.2154, USD/JPY @ 133.85, EUR/INR @ 88.27, GBP/INR @ 100.15, JPY/INR @ 61.55.
Gold@1908, Brent Crude @ 80, Nifty @ 17080(-75), 10 Year G-SEC @ 7.35%.

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