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FX RATES AND USDINR FWDS :

By Goodwill
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August 8, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate August 08, 2024

USD is now at 83.95. USDINR opened at 83.85. Fwd premia – 1 year fwd premia is at 2.03% p.a.

-RBI kept rates steady by 4-2 vote. Repo rates unchanged at 6.5%.

-GDP is expected to be 7.2% and inflation is expected to average 4.5%.

-RBI Governor said that Indian growth is strong and inflation is declining.

-He also added while short term outlook for Global economy is bright, medium term is challenging.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
7-Aug-24	83.95	106.65	91.62	57.24

-USDINR is at 83.95.Prior day’s close was 83.95.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 6.99%.

-USDINR 1 yr fwd premia is at 2.03%.

USDINR @ 83.95, EUR/USD@ 1.0930, GBP/USD @ 1.2692, USD/JPY @ 146.10, EUR/INR @ 91.77, GBP/INR @ 106.56, JPY/INR @ 57.47. Gold@2393, Brent Crude @ 78.40, Nifty @ 24200(-98), 10 Year G-SEC @ 6.99%.

Hedging:

USDINR receivables can be hedged at 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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