India Currency Report / Fixed Income Report – Indian Trade Data – April 2012

India gets to consolidate the new $300 bln a year target with just under $25 bln in Exports in April and thankfully Imports started off at a low rate keeping to $37 bln for a $12 bln deficit even as EEFC restrictions / conversion of $2.5 bln into rupees shored up the dollar earlier in the morning

Yields are already below 8.5% for a target and will likely range to a 8.75% mark at the most liquidity unchanged from last week. June is likely the bbig Oil import month though that is pure speculation. India is doing fine in Cotton exports to China for a few days yet, 

Dollar should have crawled back to 53.27 and their should have been more pressure on the EUR INR rates given global movements


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