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+91 80122 78000

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FX RATES AND USDINR FWDS :

FX RATES AND USDINR FWDS :
  • By Goodwill
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  • August 5, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate August 05, 2024

Major developments:

USD is now at 83.83. USDINR opened at 83.76. Fwd premia – 1 year fwd premia is at 2% p.a.
 
-US non farm payrolls was weaker than expected. 
 
-US recession fears and unwinding of Yen carry trades have triggered massive falls in Global stocks.
 
-USDINR premia has climbed to 2% for 1 year as US 10 Year yield declines to 3.76%.
 
-Dollar declined against majors, but is climbing against Rupee.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EURO 100 YEN
2-Aug-24 83.74 106.64 90.46 56.15
 
-USDINR is at 83.83.Prior day’s close was 83.75.
 
-Indian Equity indices decline.
 
-Indian 10 year G-SEC yield is at 6.96%.
 
-USDINR 1 yr fwd premia is at 2%.
 
USDINR @ 83.83, EUR/USD@ 1.0902, GBP/USD @ 1.2715, USD/JPY @ 142.54, EUR/INR @ 91.38, GBP/INR @ 106.60, JPY/INR @ 58.95. Gold@2433, Brent Crude @ 76, Nifty @ 24024(-689), 10 Year G-SEC @ 6.96%.
 
Hedging:
USDINR receivables can be hedged at 83.90/84.10.
Payables can be covered on dips to 83.60.
 
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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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