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FX RATES AND USDINR FWDS :

FX RATES AND USDINR FWDS :
  • By Goodwill
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  • January 3, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate January 3, 2024

Major developments:

USD is now at 83.33. USDINR opened at 83.30. Fwd premia – 1 year fwd premia is at 1.75% p.a.
 
– US ISM (mfrg), FOMC Minutes, employment data and EU CPI are focus events for the week.
 
-USD rebounded as Yields pushed higher.
 
-Euro declined as PMI(mfrg) remained in deep contraction mode.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EURO 100 YEN
2-Jan-24 83.32 106.1 58.9 91.92
-USDINR is at 83.33.Prior day’s close was 83.32.
 
-Indian Equity indices decline.
 
-Indian 10 year G-SEC yield is at 7.20%.
 
-USDINR 1 yr fwd premia is at 1.75%.
 
USDINR @ 83.33, EUR/USD@ 1.0960, GBP/USD @ 1.2639, USD/JPY @ 141.94, EUR/INR @ 91.33, GBP/INR @ 105.32, JPY/INR @ 58.71. Gold@2065, Brent Crude @ 76, Nifty @ 21585(-81), 10 Year G-SEC @ 7.20%.
 
Hedging:
USDINR payables can be hedged on dips to 83.17/83.10 .
USD EXPORTS can be hedged at 83.35/83.40.
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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