Germany 10 Year Benchmark

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1 INR: THE DOMESTIC CURRENCY COULD REMAIN RANGE BOUND. July 12 th, 2016 MARKET OUTLOOK The Indian Rupee could remain range bound on Tuesday. However, most Asian currencies fell against the greenback. However, improving risk appetite and hopes of stimulus from global central banks will likely lift local stocks, limiting losses in the rupee. We expect the Rupee to remain within the trading range of intraday. DOMESTIC MARKET The Indian Rupee appreciated against the U.S. Dollar as gains in regional and local stocks spurred hopes of foreign fund inflows. However, heavy greenback purchases by crude oil importers kept the rupee s gain in check. The rupee closed at to a Dollar, the highest since Jun. 17, compared with on Jul. 8. The currency touched an intraday high of 67.06, but surrendered gains on high dollar demand from refiners. India's benchmark BSE Sensex rose to a near 11-month high, adding 1.84% on Monday. Local markets await India s retail inflation and industrial production data due today. INTERNATIONAL MARKETS US Dollar The Dollar Index rose Monday as Friday s strong U.S. employment data continued to boost optimism over the strength of the economy. The Labor Department reported on Friday that the U.S. economy added 287,000 jobs last month, well above the 175,000 jobs forecast by economists. Euro The Euro ended flat on Monday, but is trading with gains on Tuesday morning after IMF said that recovery in the euro area has strengthened. However, they also added that the medium-term outlook remains weak and is endangered by a lack of collective action to address common challenges. Japanese Yen The Yen continued to depreciate on Tuesday morning after Japanese elections and additional stimulus from the Bank of Japan as it tries to lower the value of the yen ahead of its meeting this week. UK Sterling The Sterling ended higher on Monday. The Sterling rose on Tuesday morning as well. However upside remained limited on expectations that the Bank of England will ease monetary policy. The BoE, which meets on Thursday and Chances of the Bank cutting rates this week have jumped to 74%, from 11% before the Brexit vote. MARKET RECAP INR Spot Pairs (As on 11 July 2016) Instrument Close 1 Day % % MTD % YoY USDINR EURINR GBPINR JPYINR Instrument Global Pairs (As on 12 July 2016 of 8:56 AM IST) Close 1 Day % % MTD % YoY US Dollar Index Euro UK Pound Japanese Yen Emerging Market Pairs vs. USD (As on 12 July 2016 of 8:56 AM IST) Instrument Close 1 Day % MTD % YoY % Chinese Yuan Brazilian Real Russian Ruble South African Rand Indonesian Rupiah Swaps (As on 11 July 2016) Instrument 3 Month 6 Month 1 Year LIBOR INR Forward Premium Generic Bond Yields and MIFOR (As on 11 July 2016) Instrument Close 1 Day % % MTD Indian Rupee 1 Year MIFOR US Dollar 1 Year IRS United States 10 Year Benchmark Germany 10 Year Benchmark India 10 Year Benchmark FII Flows (As on 11 July 2016) Instruement Daily Monthly $Million Net. $Million Net. Equity Debt Total

2 CURRENCY OPTIONS MONITOR USDINR JULY Ratio and IV Days to expiry for Near Month 15 Close Previous Put-Call OI Ratio Active months - July Ratio Calls Puts Put-Call Ratio O/I Put-Call Ratio Vol OI Volume LTP Strike LTP OI Volume , , , , ,102 7, , ,750 2, ,568 21, , ,985 17, , , , , ,398 44, ,865 23, , , , , ,581 50, ,382 6, , , ,747 40, ,747 40, ,699 14, ,699 14, , , , , , , , Strike Moneyness Theoretical Market Option Greeks IV Price Price Delta Gamma Vega Theta Rho Call Options OTM % Put Options OTM % CURRENCY OPTIONS OI - JULY 300,000 Options OI 250, ,000 Put OI 150, ,000 50,000 Call OI

3 USDINR SPOT - DAILY Open High Low Last Net % SMA (-0.36%) /22/2015-7/20/2016 (GMT) Price RSI Auto Value Dec 15 January 2016 February 2016 March 2016 April 2016 May 2016 June 2016 July 2016 Source: Thomson Reuters Auto Support and Resistance Recommendations INR Spot Close S1 S2 R1 R2 July Contract USD Target SL EUR Target SL GBP Target SL JPY Target SL US DOLLAR INDEX - DAILY 3/9/2016-7/19/2016 (NYC) Cndl,.DXY, 7/12/2016, , , , , , (-0.22%), SMA,.DXY, 7/12/2016, Price USD RSI,.DXY, 7/12/2016, Value USD Mar 16 Apr 16 May 16 Jun 16 Jul 16 Oscillators and Statistics International Spot Stochastics Close S1 S2 R1 R2 Dollar Index Bullish EUR Bullish GBP Bullish JPY Bullish

4 TODAY S EVENTS (JULY 12, 2016) Time Cur. Event Actual Forecast Previous Importance 7:00 AUD NAB Business Confidence (Jun) 6 3 Medium 10:00 JPY Tertiary Industry Activity Index (MoM) -0.70% 1.40% Medium 11:30 EUR German CPI (MoM) (Jun) 0.10% 0.10% Medium 14:30 GBP BoE Gov Carney Speaks High 17:30 INR CPI (YoY) (Jun) 5.73% 5.76% High 17:30 INR Industrial Production (YoY) (May) -0.40% -0.80% High 17:30 INR Manufacturing Output (MoM) (May) -3.10% High 17:30 BRL Retail Sales (MoM) (May) 0.40% 0.50% Medium 17:30 BRL Retail Sales (YoY) (May) -6.20% -6.70% Medium 18:45 USD FOMC Member Tarullo Speaks Medium 19:05 USD FOMC Member Bullard Speaks Medium 19:30 USD JOLTs Job Openings (May) 5.700M 5.788M Medium 22:30 USD 10-Year Note Auction 1.70% Medium 23:30 USD Federal Budget Balance (Jun) 24.0B -53.0B Medium Red data in Actual Indicates negative for currency Source: Investing.com General Disclaimers As part of regulatory requirement you are required to update your following KYC details with us: Correspondence Address Mobile Number Id Annual Income

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