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FX RATES AND USDINR FWDS :

FX RATES AND USDINR FWDS :
  • By Goodwill
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  • November 24, 2023

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate November 24, 2023

Major developments:

USD is now at 83.36. USDINR opened at 83.33. Fwd premia – 1 year fwd premia is at 1.60% p.a. 
 
-ECB minutes indicated that higher rates will prevail for long and until inflation comes to target levels.
 
-OPEC is meeting on Nov 26 th and could consider extending supply cuts.
 
RBI rates
Trade Date  1 USD 1 GBP 1 EUR 100 YEN
23-Nov-23 83.36 104.29 90.95 55.94
 -USDINR is at 83.36.Prior day’s close was 83.33.
 
-Indian Equity indices trades flat.
 
-Indian 10 year G-SEC yield is at 7.27%.
 
-USDINR 1 yr fwd premia is at 1.60%.
 
USDINR @ 83.36, EUR/USD@ 1.0905, GBP/USD @ 1.2540, USD/JPY @ 149.26, EUR/INR @ 90.89, GBP/INR @ 104.51, JPY/INR @ 55.84 Gold@1993, Brent Crude @ 81.25, Nifty @ 19802(+0), 10 Year G-SEC @ 7.27%.
 
Hedging:
USDINR payables can be hedged on dips to 83.10 . Eur receivables can be hedged now . 
GBPINR receivables can be hedged now.
 
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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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