FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate August 01, 2024
Major developments:
USD is now at 83.73. USDINR opened at 83.68. Fwd premia – 1 year fwd premia is at 1.84% p.a.
-Fed did not explicitly commit to future rate cut decision, while maintaining status quo on rates.
-Yen gained as BOJ hiked rates and stated that it is open to increasing rates further.
-US non farm payrolls is a key data event for the day.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 31-Jul-24 | 83.74 | 107.54 | 90.62 | 54.78 |
-USDINR is at 83.73.Prior day’s close was 83.70.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.03%.
-USDINR 1 yr fwd premia is at 1.84%.
USDINR @ 83.73, EUR/USD@ 1.0814, GBP/USD @ 1.2807, USD/JPY @ 150.09, EUR/INR @ 90.54, GBP/INR @ 107.22, JPY/INR @ 55.78. Gold@2445, Brent Crude @ 81.50, Nifty @ 24998(+48), 10 Year G-SEC @ 7.03%.
Hedging: USDINR receivables can be hedged.
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