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FX RATES AND USDINR FWDS :

By Goodwill
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March 4, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate March 4, 2024

Major developments:

USD is now at 82.89. USDINR opened at 82.86. Fwd premia – 1 year fwd premia is at 1.66% p.a.

-ECB rate decision, US ISM (services) and employment data are key events for the week.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
1-Mar-24	82.87	104.65	89.57	55.11

-USDINR is at 82.89.Prior day’s close was 82.91.

-Indian Equity indices surge.

-Indian 10 year G-SEC yield is at 7.05%.

-USDINR 1 yr fwd premia is at 1.66.%.

USDINR @ 82.89, EUR/USD@ 1.0846, GBP/USD @ 1.2666, USD/JPY @ 150.24, EUR/INR @ 89.68, GBP/INR @ 104.98, JPY/INR @ 55.16. Gold@2081, Brent Crude @ 83.55, Nifty @ 22414(+37), 10 Year G-SEC @ 7.06%.

Hedging:

USDINR payables can be hedged at 82.85 . USD EXPORTS can be hedged at 82.96/83.10.

Eur receivables can be hedged at 90.10 . 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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