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FX RATES AND USDINR FWDS :

FX RATES AND USDINR FWDS :
  • By Goodwill
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  • October 27, 2023

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate October 27, 2023

Major developments:

USD is now at 83.24. USDINR opened at 83.22. Fwd premia – 1 year fwd premia is at 1.74% p.a. 
 
-US GDP climbed 4.95 q/q and 2.9% y/y. Durables data and home sales data were strong.
 
-ECB held rates steady.
 
-US Income and Core PCE data are important data events for the day.
 
RBI rates
 
Trade Date 1 USD 1 GBP 1 EUR 100 YEN
26-Oct-23 83.24 100.51 87.7 55.22
 
-USDINR is at 83.24.Prior day’s close was 83.25.
 
-Indian Equity indices climb.
 
-Indian 10 year G-SEC yield is at 7.35%.
 
-USDINR 1 yr fwd premia is at 1.74%.
 
USDINR @ 83.24, EUR/USD@ 1.0567, GBP/USD @ 1.2136, USD/JPY @ 150.24, EUR/INR @ 87.94, GBP/INR @ 101.02, JPY/INR @ 55.41. Gold@1989, Brent Crude @ 89, Nifty @ 19004(+147), 10 Year G-SEC @ 7.35%.
 
Hedging:
USDINR payables can be hedged on dipes to 83.10 . Eur receivables can be hedged now and on rally 88.70. 
GBPINR receivables can be hedged closer to 102.40/103.50.
 
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Risk Disclosures
on Derivatives

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Source: SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

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