FX RATES AND USDINR FWDS :
Major developments:
USD is now at 83.83. USDINR opened at 83.84. Fwd premia – 1 year fwd premia is at 2.05% p.a.
-Rupee gains on weak USD index and inflows related to Zomato.
-FOMC minutes and Fed Chairman’s speech are focus events for the week.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 19-Aug-24 | 83.92 | 108.8 | 92.69 | 57.7 |
-USDINR is at 83.83.Prior day’s close was 83.88.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 6.97%.
-USDINR 1 yr fwd premia is at 2.05%.
USDINR @ 83.83, EUR/USD@ 1.1077, GBP/USD @ 1.2980, USD/JPY @ 147.12, EUR/INR @ 92.85, GBP/INR @ 108.80, JPY/INR @ 56.98. Gold@2502, Brent Crude @ 77, Nifty @ 24693(+120), 10 Year G-SEC @ 6.97%.
Hedging:
USDINR receivables can be hedged at 84.10.
Payables can be covered on dips to 83.70/83.65.
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