Major developments:

USD is now at 82.65. USDINR opened at 82.55. Fwd premia – 1 year fwdpremia is at 2.30% p.a. 
-Rupee trades steady, ahead of Fed meeting on Wednesday.
-RBI seems to be protecting 82.80 levels.  RBI selling was evident above 82.70.
-Fed meeting is key event for the week. BOE meeting also is significant.
-Fed may raise rates by 25 bps and indicate that they will keep a close watch on both inflation and banking developments. Fed’s assurance and communication will be key to FX and asset markets.

RBI ref rate: 

-USDINR is at 82.65 .Prior day’s close was 82.63.
-Indian Equity indices climb modestly.

-Indian 10 year G-SEC yield is at 7.34%.
-USDINR 1 yr fwd premia is at 2.30%.

USDINR @ 82.65, EUR/USD@ 1.0713, GBP/USD @ 1.2256, USD/JPY @ 131.32, EUR/INR @ 88.54, GBP/INR @ 101.30, JPY/INR @ 62.94.
Gold@1985, Brent Crude @ 73.25, Nifty @ 17058(+70), 10 Year G-SEC @ 7.34%.

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