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FX RATES AND USDINR FWDS :

By Goodwill
No Comments
February 23, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate February 23, 2024

Major developments:

USD is now at 82.86. USDINR opened at 82.86. Fwd premia – 1 year fwd premia is at 1.71% p.a.

-EU PMI -Composite remained in contraction mode. UK PMI (services) remained in expansion mode.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
22-Feb-24	82.92	104.88	89.87	55.2

-USDINR is at 82.86.Prior day’s close was 82.85.

-Indian Equity indices trade flat.

-Indian 10 year G-SEC yield is at 7.07%.

-USDINR 1 yr fwd premia is at 1.71.%.

USDINR @ 82.87, EUR/USD@ 1.0825, GBP/USD @ 1.2665, USD/JPY @ 150.53, EUR/INR @ 89.71, GBP/INR @ 104.96, JPY/INR @ 55.05. Gold@2026, Brent Crude @ 83, Nifty @ 22230(+12), 10 Year G-SEC @ 7.07%.

Hedging:

USDINR payables can be hedged at 82.85 . USD EXPORTS can be hedged at 83.18/83.35.

Eur receivables can be hedged at 89.70/90.10 . GBPINR receivables can be hedged at 105+.

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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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