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FX RATES AND USDINR FWDS :

FX RATES AND USDINR FWDS :
  • By Goodwill
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  • February 1, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate February 1, 2024

Major developments:

USD is now at 82.99. USDINR opened at 82.98. Fwd premia – 1 year fwd premia is at 1.88% p.a.
 
-Indian Budget is being presented now.
 
-Focus is on US ISM(mfrg) and employment data
 
-Fed maintained status quo and ruled out March rate hike. 
 
-BOE is also meeting today.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EURO 100 YEN
31-Jan-24 83.08 105.31 89.88 56.2
 
-USDINR is at 82.99.Prior day’s close was 83.05.
 
-Indian Equity indices climb.
 
-Indian 10 year G-SEC yield is at 7.13%.
 
-USDINR 1 yr fwd premia is at 1.88%.
 
USDINR @ 82.99, EUR/USD@ 1.0810, GBP/USD @ 1.2681, USD/JPY @ 146.72, EUR/INR @ 89.69, GBP/INR @ 105.20, JPY/INR @ 56.55. Gold@2046, Brent Crude @ 81, Nifty @ 21772(+47), 10 Year G-SEC @ 7.13%.
 
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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