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FX RATES AND USDINR FWDS :

By Goodwill
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April 16, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate April 16, 2024

USD is now at 83.48. USDINR opened at 83.51. Fwd premia – 1 year fwd premia is at 1.56% p.a.

-Indian trade deficit declined in March to USD 15.6 bn. For the full year, trade deficit was reported at USD 240 bn.

-US retail sales climbed 0.7% m/m, stronger than anticipated.

-US rate jitters and Geo political tensions trigger Equity meltdown.

-Euro is down on divided opinion over rate cuts.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
15-Apr-24	83.44	104.07	88.91	54.25

-USDINR is at 83.49.Prior day’s close was 83.46.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 7.19%.

-USDINR 1 yr fwd premia is at 1.56%.

USDINR @ 83.49, EUR/USD@ 1.0609, GBP/USD @ 1.2421, USD/JPY @ 154.38, EUR/INR @ 88.57, GBP/INR @ 103.69, JPY/INR @ 54.08. Gold@2385, Brent Crude @ 90.50, Nifty @ 22173(-99), 10 Year G-SEC @ 7.19%.

Hedging: USDINR receivables can be hedged at 83.70.

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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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