FX Rates and USD INR Forward Rate August 22, 2024

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FX RATES AND USDINR FWDS :

By Goodwill
No Comments
August 22, 2024

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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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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