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FX RATES AND USDINR FWDS :

By Goodwill
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March 26, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate March 26, 2024

Major developments:

USD is now at 83.34. USDINR opened at 83.23. Fwd premia – 1 year fwd premia is at 1.57% p.a.

-RBI took delivery of USD 5 bn swap, creating USD shortage. Month end USD payments also weighed down on Rupee. Rupee has retraced to 83.33 from last week close of 83.67.

-US Core PCE index is the key event for the week.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
22-Mar-24	83.35	105.25	90.26	55.05

-USDINR is at 83.34.Prior day’s close was 83.67.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 7.09%.

-USDINR 1 yr fwd premia is at 1.57.%.

USDINR @ 83.34, EUR/USD@ 1.0846, GBP/USD @ 1.2645, USD/JPY @ 151.34, EUR/INR @ 90.37, GBP/INR @ 105.38, JPY/INR @ 55.07. Gold@2173, Brent Crude @ 86, Nifty @ 22038(-55), 10 Year G-SEC @ 7.09%.

Hedging:

USDINR receivables can be hedged .

Eur receivables can be hedged . 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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