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FX RATES AND USDINR FWDS :

FX RATES AND USDINR FWDS :
  • By Goodwill
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  • November 6, 2023

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate November 06, 2023

Major developments:

USD is now at 83.19. USDINR opened at 83.15. Fwd premia – 1 year fwd premia is at 1.65% p.a. 
 
-Indian Equity indices have opened gap up, taking cues from Overseas markets.
 
-US employment data was below consensus at 150k with wage growth below expectation.
 
-Decline in US Yields trigger upsurge in Global equities. 
 
RBI rates
 
Trade Date  1 USD 1 GBP 1 EUR 100 YEN
3-Nov-23 83.27 101.62 88.52 55.4
 
-USDINR is at 83.21.Prior day’s close was 83.28.
 
-Indian Equity indices climb.
 
-Indian 10 year G-SEC yield is at 7.30%.
 
-USDINR 1 yr fwd premia is at 1.64%.
 
USDINR @ 83.21, EUR/USD@ 1.0737, GBP/USD @ 1.2378, USD/JPY @ 149.55, EUR/INR @ 89.33, GBP/INR @ 103.03, JPY/INR @ 55.63. Gold@1985, Brent Crude @ 85, Nifty @ 19336(+105), 10 Year G-SEC @ 7.30%.
 
Hedging:
USDINR payables can be hedged on dipes to 83.10 . Eur receivables can be hedged now and on rally 89.70/90.10. 
GBPINR receivables can be hedged closer to 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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