??? The Rupee appreciated today as market reacted to the surprise repo rate hike announced by the RBI on Friday. But intervention prevented the Rupee from breaching the 43 level. The USD/INR pair ended at 43.06 from 43.29 earlier.

??? The 6-month and 1-year forward premium was at 5.93% and 4.56% as compared to 4.40% and 3.67% previously.

??? The Dollar suffered limited losses after a worse than expected ISM data, managing to recover against the Euro, though the Sterling is still strong ahead of the BoE rate decision. EUR/USD was at 1.3362 from 1.3366 yesterday and GBP/USD was at 1.976 from 1.977 yesterday. USD/JPY was at 118.68 from 117.87 yesterday*.

*These levels are taken at 19:30 IST.