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FX RATES AND USDINR FWDS :

By Goodwill
No Comments
May 24, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate May 24, 2024

Major developments:

USD is now at 83.14. USDINR opened at 83.26. Fwd premia – 1 year fwd premia is at 1.67% p.a.

-RBI’S Rs 2.1 lac Cr dividend to Govt spurred positive sentiment for Rupee.

-FII inflows into Equity markets also has contributed to today’s Rupee gains.

-FOMC minutes sounded hawkish.

-Global PMI’S indicate inflation is on the upswing again.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
23-May-24	83.23	106.1	90.39	53.21

-USDINR is at 83.12.Prior day’s close was 83.29.

-Indian Equity indices trade flat.

-Indian 10 year G-SEC yield is at 7%.

-USDINR 1 yr fwd premia is at 1.67%.

USDINR @ 83.12, EUR/USD@ 1.0816, GBP/USD @ 1.2693, USD/JPY @ 157.08, EUR/INR @ 89.86, GBP/INR @ 105.50, JPY/INR @ 52.91.Gold@2336, Brent Crude @ 81.45, Nifty @ 22975(+8), 10 Year G-SEC @ 7%.

Hedging:

USDINR receivables can be hedged at 83.50/83.70.

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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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