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FX RATES AND USDINR FWDS :

FX RATES AND USDINR FWDS :
  • By Goodwill
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  • February 2, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate February 2, 2024

Major developments:

USD is now at 82.87. USDINR opened at 82.92. Fwd premia – 1 year fwd premia is at 1.81% p.a.
 
-Fiscal consolidation drives Indian 10 Year G-SEC to 6 months low of 7.03%.
 
-USDINR fwds decline, tracking lower G-SEC yield.
 
-Focus is on US employment data
 
-BOE maintained status quo on rates with divergent views on rate path.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EURO 100 YEN
1-Feb-24 82.95 105.09 89.61 56.47
-USDINR is at 82.87.Prior day’s close was 82.98.
 
-Indian Equity indices climb.
 
-Indian 10 year G-SEC yield is at 7.03%.
 
-USDINR 1 yr fwd premia is at 1.81%.
 
USDINR @ 82.87, EUR/USD@ 1.0875, GBP/USD @ 1.2744, USD/JPY @ 146.43, EUR/INR @ 90.10, GBP/INR @ 105.62, JPY/INR @ 56.59. Gold@2054, Brent Crude @ 79, Nifty @ 21932(+237), 10 Year G-SEC @ 7.03%.
 
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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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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