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FX RATES AND USDINR FWDS :

By Goodwill
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August 30, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate August 30, 2024

Major developments:

USD is now at 83.86. USDINR opened at 83.85. Fwd premia – 1 year fwd premia is at 2.10% p.a.

-Indian Q1 GDP awaited.

-US Core PCE data is key release for the day.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
29-Aug-24	83.89	93.38	110.91	58.03

-USDINR is at 83.86.Prior day’s close was 83.88.

-Indian Equity indices climb.

-Indian 10 year G-SEC yield is at 6.98%.

-USDINR 1 yr fwd premia is at 2.10%.

USDINR @ 83.86, EUR/USD@ 1.1077, GBP/USD @ 1.3167, USD/JPY @ 144.81, EUR/INR @ 92.89, GBP/INR @ 110.41, JPY/INR @ 57.90. Gold@2513, Brent Crude @ 79, Nifty @ 25220(+68), 10 Year G-SEC @ 6.98%.

Hedging:

USDINR receivables can be hedged at 84.20/84.30.

Payables can be covered on dips to 83.75/83.65.

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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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