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Forex Rates

US 10Y0.74%
INR 1M FWD32p(5.05%)
INR 3M FWD92p(4.81%)
INR 6M FWD173p(4.54%)
INR 12M FWD327p(4.25%)
$ LIBOR 1M0.86%
$ LIBOR 3M1.32%
$ LIBOR 6M1.22%
$ LIBOR 12M1.04%


U.S. stock markets jumped on Wednesday on hopeful signs about the coronavirus outbreak in the United States was close to a peak, with health insurers getting an additional lift from Bernie Sanders' decision to suspend his presidential campaign. Asian shares rose on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures, while expectations of an oil production cut agreement bolstered crude prices. Risk-sensitive currencies climbed on budding optimism the coronavirus pandemic may be peaking although the euro was dented by the European Union's failure to agree on more support for their weakened economies. U.S. Treasury yields were mixed on Wednesday following an auction of 30-year bonds that was better received than note auctions earlier this week and the release of minutes from the Federal Reserve's March meeting. Crude futures rose on expectations the world's largest oil producers would agree to cut production at a meeting later in the day.


USD/INR opens lower as local equities extend weekly advance. Pair now at 76.27 against 76.37 at 2.00 pm yesterday. Sensex up 2.7% after US equities climbed 3% to reach highest in a month. S&P 500 Index now 20% off its recent lows. Sensex, which is up 11% this week, is now 18% off lows. Optimism on easing of coronavirus outbreak and for another round of stimulus help rebound in equities. Indian federal government bonds fall before INR190 billion auction today, which includes INR100 billion of benchmark paper. Benchmark at INR99.83, lowest since February 14, yielding 6.47%, against INR100.06 and 6.44% yield at previous close. Gold prices rose slightly ahead of a U.S. weekly jobless claims report as the dollar inched lower, while increasing appetite for risk on hopes that the new coronavirus pandemic is nearing a peak limited the metal's upside. Sentiment cautious on reports India may extend nationwide lockdown beyond April 14. India’s coronavirus cases have risen to 5,734 with 166 deaths. Indian prime minister to speak to states on April 11; Indian markets shut tomorrow.

CHIC Infotech