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FX RATES AND USDINR FWDS :

FX RATES AND USDINR FWDS :
  • By Goodwill
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  • March 27, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate March 27, 2024

Major developments:

USD is now at 83.35. USDINR opened at 83.32. Fwd premia – 1 year fwd premia is at 1.57% p.a.
 
-Indian Current account deficit for Oct-Dec quarter was at USD 10.5 bn, 1.2% of GDP vs USD 16.8 bn during the same period last year.
 
-Trade deficit stood at USD 71.6 bn in Q3 vs USD 71.3 bn in Q3 of 22-23 FY.
 
-Net FDI inflows slowed to USD 8.5 bn in Apr-Dec 2023 vs USD 21.6 bn during Apr-Dec 2022.
 
-FPI inflows stood at USD 12 bn in Oct-Dec vs USD 4.6 bn during the same period last year.
 
-US Core PCE index is the key event for the week.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EURO 100 YEN
26-Mar-24 83.35 105.45 90.43 55.08
 
-USDINR is at 83.35.Prior day’s close was 83.31.
 
-Indian Equity indices climb.
 
-Indian 10 year G-SEC yield is at 7.09%.
 
-USDINR 1 yr fwd premia is at 1.57.%.
 
USDINR @ 83.35, EUR/USD@ 1.0829, GBP/USD @ 1.2618, USD/JPY @ 151.63, EUR/INR @ 90.25, GBP/INR @ 105.15, JPY/INR @ 54.96. Gold@2178, Brent Crude @ 85, Nifty @ 22150(+144), 10 Year G-SEC @ 7.08%.
 
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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