* USDINR trading range for the day is 75.8-76.68.
* Rupee gained on short covering after prices weakened amid a global meltdown in risk assets, with rising number of coronavirus cases locally adding to anxiety.
* India’s foreign-exchange reserves plunged the most in about eight years as the central bank stepped in to defend the rupee.
* Reserve Bank of India: RBI to conduct variable rate Term Repos of ₹1,00,000 crores
* EURINR trading range for the day is 81.5-83.79.
* Euro gained as the dollar slipped on signs tight funding conditions are easing slightly after Fed pulled out all stops to supply much needed greenback liquidity.
* ECB’s Costa calls on for Eurozone to consider very long term Coronabonds to be issued by ESM and repayable from EU budget
* Italian Official: Euro Area not debating targeted Italy support, Italy doesn’t need targeted support measures
* GBPINR trading range for the day is 87.9-90.76.
* GBP rebounded following reports that U.K. Prime Minister Boris Johnson imposed stricter lockdown measures to combat the COVID-19 pandemic.
* On the Brexit side, PM Johnson’s spokesman noted the UK is aiming for a deal with the EU by year-end 2020.
* UK households’ perception about financial well being deteriorated in March to its lowest level since mid-2019
* JPYINR trading range for the day is 68.26-69.76.
* JPY gained as dollar dropped after the Fed announced a set of new emergency funding programs to ease liquidity concerns in key markets.
* BoJ’s Kuroda: BoJ’s profits will change depending on market moves. Current paper ETF loss doesn’t directly mean BoJ loss
* Japanese Finance Minister Taro Aso says officials will respond quickly if fair trading is not taking place, adding that they will aim to strengthen financial market surveillance.