Major developments:

USD is now at 82.05. USDINR opened at 82.06. Fwd premia – 1 year fwdpremia is at 2.14% p.a. 
-Refund of a corporate IPO oversubscription triggered a mild fall in Rupee y’day.
-US CPI is set for release today. Inflation trajectory will play a key role in shaping Fed decisions in future.
-NY Fed President quashed any chance of rate cut in future and emphasised the need for restrictive monetary policy to bring inflation down to Fed target level.
-BOE is expected to hike rates by 25 bps in its meeting tomorrow.
-ECB member also maintained hawkish stance on rates and said that potential for rate cuts is highly unlikely in foreseeable future.
RBI ref rate: 

-USDINR is at 82.05 .Prior day’s close was 82.04.
-Indian Equity indices trade flat,

-Indian 10 year G-SEC yield is at 7.05%.
-USDINR 1 yr fwd premia is at 2.14%.

USDINR @ 82.05, EUR/USD@ 1.0973, GBP/USD @ 1.2623, USD/JPY @ 135.22, EUR/INR @ 90.04, GBP/INR @ 103.57, JPY/INR @ 60.68.
Gold@2037, Brent Crude @ 77, Nifty @ 18249(-16), 10 Year G-SEC @ 7.05%.

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