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FX RATES AND USDINR FWDS :

By Goodwill
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January 31, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate January 31, 2024

Major developments:

USD is now at 83.10. USDINR opened at 83.12. Fwd premia – 1 year fwd premia is at 1.88% p.a.

-Indian Budget will take center stage this week.

-Focus is on US Fed meeting, ISM(mfrg) and employment data

-EU CPI data is due for release.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
30-Jan-24	83.12	105.61	89.96	56.42

-USDINR is at 83.10.Prior day’s close was 83.11.

-Indian Equity indices climb.

-Indian 10 year G-SEC yield is at 7.14%.

-USDINR 1 yr fwd premia is at 1.88%.

USDINR @ 83.10, EUR/USD@ 1.0819, GBP/USD @ 1.2677, USD/JPY @ 147.64, EUR/INR @ 89.90, GBP/INR @ 105.33, JPY/INR @ 56.28. Gold@2033, Brent Crude @ 82, Nifty @ 21627(+106), 10 Year G-SEC @ 7.14%.

Hedging:

USDINR payables can be hedged at 82.92/82.85 . USD EXPORTS can be hedged at 83.35/83.40.

Eur payables can be hedged at 89.20/88.50 . 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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