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FX RATES AND USDINR FWDS :

By Goodwill
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April 12, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate April 12, 2024

USD is now at 83.38. USDINR opened at 83.36. Fwd premia – 1 year fwd premia is at 1.60% p.a.

-IIP, CPI are important data events for the day.

-USD gained against majors on higher than expected US CPI data.

-ECB indicated possibility of rate cuts.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
10-Apr-24	83.22	105.52	90.29	54.83

-USDINR is at 83.38.Prior day’s close was 83.21.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 7.18%.

-USDINR 1 yr fwd premia is at 1.60%.

USDINR @ 83.38, EUR/USD@ 1.0715, GBP/USD @ 1.2542, USD/JPY @ 153.20, EUR/INR @ 89.36, GBP/INR @ 104.57, JPY/INR @ 54.43. Gold@2385, Brent Crude @ 90.22, Nifty @ 22652(-100), 10 Year G-SEC @ 7.18%.

Hedging:

USDINR receivables can be hedged at 83.45/83.70.

Eur receivables can be hedged on climb to 89.70/90+.

GBPINR receivables can be hedged on rally to 105.50/106.

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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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