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FX RATES AND USDINR FWDS :

FX RATES AND USDINR FWDS :
  • By Goodwill
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  • January 8, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate January 8, 2024

Major developments:

USD is now at 83.08. USDINR opened at 83.10. Fwd premia – 1 year fwd premia is at 1.80% p.a.
 
-US employment beat expectations. US added 216 k jobs and unemployment rate was at 3.7% and average hourly earnings climbed 0.4% m/m.
 
-Indian CPI, IIP and US CPI are key events for the week.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EURO 100 YEN
5-Jan-24 83.17 105.35 90.88 57.26
 
-USDINR is at 83.08.Prior day’s close was 83.15.
 
-Indian Equity indices is flat.
 
-Indian 10 year G-SEC yield is at 7.21%.
 
-USDINR 1 yr fwd premia is at 1.80%.
 
USDINR @ 83.08, EUR/USD@ 1.0933, GBP/USD @ 1.2702, USD/JPY @ 144.45, EUR/INR @ 90.76, GBP/INR @ 105.55 JPY/INR @ 57.53. Gold@2036, Brent Crude @ 78, Nifty @ 21718(+8), 10 Year G-SEC @ 7.21%.
 
Hedging:
USDINR payables can be hedged on dips to 83.03/82.92 . 
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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