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FX RATES AND USDINR FWDS :

By Goodwill
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August 2, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate August 02, 2024

Major developments:

USD is now at 83.74. USDINR opened at 83.74. Fwd premia – 1 year fwd premia is at 1.88% p.a.

-BOE cut rates by 25 bps, but did not commit to further loosening of policy.

-Yen gained and shook Asian markets after BOJ Governor’s statement on future rate hikes.

-US non farm payrolls is a key data event for the day.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
1-Aug-24	83.73	107.46	90.61	55.87

-USDINR is at 83.74.Prior day’s close was 83.74.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 7.02%.

-USDINR 1 yr fwd premia is at 1.88%.

USDINR @ 83.74, EUR/USD@ 1.08, GBP/USD @ 1.2729, USD/JPY @ 149.17, EUR/INR @ 90.43, GBP/INR @ 106.59, JPY/INR @ 56.13. Gold@2461, Brent Crude @ 80, Nifty @ 24806(-203), 10 Year G-SEC @ 7.02%.

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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