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Rupee Expected To Weaken

INDIA

The rupee is expected to weaken at the open, 1-month NDF's have declined some 0.3% since the cash close yesterday. 1-month NDF last just off session highs at 73.888.

  • INR denominated debt sales are expected to slow this week for the third consecutive week, the coronavirus situation is clouding the outlook with many companies having already suspended operations. The RBI will go ahead with its planned INR 260bn bond sale tomorrow.
  • Markets will look to CPI and industrial production data to provide catalysts, while India's federal cabinet will also meet today. As a note, Indian markets will be closed tomorrow for Ramzan.

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