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FX RATES AND USDINR FWDS :

By Goodwill
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August 1, 2024

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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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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