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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