FX RATES AND USDINR FWDS :
Major developments:
USD is now at 83.95. USDINR opened at 83.92. Fwd premia – 1 year fwd premia is at 2.08% p.a.
-Fed minutes indicate Sept rate cuts.
-USDINR fwds climb higher.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 21-Aug-24 | 83.91 | 109.25 | 93.28 | 57.51 |
-USDINR is at 83.95.Prior day’s close was 83.92.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 6.96%.
-USDINR 1 yr fwd premia is at 2.08%.
USDINR @ 83.95, EUR/USD@ 1.1145, GBP/USD @ 1.3087, USD/JPY @ 145.37, EUR/INR @ 93.55, GBP/INR @ 109.85, JPY/INR @ 57.75. Gold@2507, Brent Crude @ 76, Nifty @ 24840(+73), 10 Year G-SEC @ 6.96%.
Hedging:
USDINR receivables can be hedged at 84.10.
Payables can be covered on dips to 83.70/83.65.
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