FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate December 12, 2023
Major developments:
USD is now at 83.18. USDINR opened at 83.17. Fwd premia – 1 year fwd premia is at 1.78% p.a.
– No major developments expected this week. Market is expected to be thin.
-Year end USD demand could push Rupee to 83.30.
-FX reserves increased by USD 9 bn to USD 615 bn.
USDINR outlook: Exporters can hedge at around 83.27/83.30 and importers can wait to hedge at around 82.80 zone.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 22-Dec-23 | 83.25 | 105.62 | 91.56 | 58.49 |
-USDINR is at 83.18.Prior day’s close was 83.15.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.18%.
-USDINR 1 yr fwd premia is at 1.78%.
USDINR @ 83.18, EUR/USD@ 1.1022, GBP/USD @ 1.2709, USD/JPY @ 142.25, EUR/INR @ 91.67, GBP/INR @ 105.72, JPY/INR @ 58.47. Gold@2064, Brent Crude @ 79, Nifty @ 21441(+93), 10 Year G-SEC @ 7.18%.
Hedging:
USDINR payables can be hedged on dips to 83.27/83.30 .
Eur receivables can be hedged now .
GBPINR receivables can be hedged now.
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