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FX RATES AND USDINR FWDS :

FX RATES AND USDINR FWDS :
  • By Goodwill
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  • January 4, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate January 4, 2024

Major developments:

USD is now at 83.31. USDINR opened at 83.31. Fwd premia – 1 year fwd premia is at 1.75% p.a.
 
– FOMC minutes acknowledged progress in inflation taming.
 
-No clue on rate cut timing, in Fed minutes.
 
-US employment data is the focus now. ISM(mfrg) remained in contraction mode.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EURO 100 YEN
4-Jan-24 83.32 105.27 91.28 58.65
 
-USDINR is at 83.31.Prior day’s close was 83.28.
 
-Indian Equity indices climb.
 
-Indian 10 year G-SEC yield is at 7.21%.
 
-USDINR 1 yr fwd premia is at 1.75%.
 
USDINR @ 83.31, EUR/USD@ 1.0930, GBP/USD @ 1.2671, USD/JPY @ 143.75, EUR/INR @ 91.04, GBP/INR @ 105.56, JPY/INR @ 57.96. Gold@2045, Brent Crude @ 79, Nifty @ 21641(+126), 10 Year G-SEC @ 7.21%.
 
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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