FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate September 5, 2023
Major developments:
USD is now at 82.83. USDINR opened at 82.78. Fwd premia – 1 year fwd premia is at 1.64% p.a.
-US CPI and PPI are key events for the week.
USDINR View: USDINR could trade in the 82.60-82.95 range this week and trade up to 83.30 this month.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EUR | 100 YEN |
| 04-Sep-23 | 82.73 | 104.35 | 89.25 | 56.6 |
-USDINR is at 82.83.Prior day’s close was 82.74.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.19%.
-USDINR 1 yr fwd premia is at 1.64%.
USDINR @ 82.83, EUR/USD@ 1.0793, GBP/USD @ 1.2627, USD/JPY @ 146.66, EUR/INR @ 89.38, GBP/INR @ 104.58, JPY/INR @ 56.47.
Gold@1965, Brent Crude @ 89, Nifty @ 19556(+27), 10 Year G-SEC @ 7.19%.
Hedging:
USDINR payables can be hedged at 82.60. Eur receivables can be hedged.
GBPINR receivables can be hedged closer to 105.50/106.
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