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FX RATES AND USDINR FWDS :

By Goodwill
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June 3, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate June 3, 2024

Major developments:

USD is now at 83.07. USDINR opened at 83.09. Fwd premia – 1 year fwd premia is at 1.60% p.a.

-Rupee gained to 83 and Equity markets have rallied 3% on exit polls predicting BJP win.

-Indian FY 24 GDP climbed 8.2% and Q4 GDP climbed 7.8%.

-US ISM and employment data are crucial events for the week.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
31-May-24	83.3	105.92	90.12	53.08

-USDINR is at 83.07.Prior day’s close was 83.42.

-Indian Equity indices climb steeply.

-Indian 10 year G-SEC yield is at 6.96%.

-USDINR 1 yr fwd premia is at 1.60%.

USDINR @ 83.07, EUR/USD@ 1.0853, GBP/USD @ 1.2740, USD/JPY @ 157.44, EUR/INR @ 90.15, GBP/INR @ 105.83, JPY/INR @ 52.76. Gold@2323, Brent Crude @ 81, Nifty @ 23142(+612), 10 Year G-SEC @ 6.96%.

Hedging:

USDINR payables 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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