FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate December 12, 2023
Major developments:
USD is now at 83.38. USDINR opened at 83.36. Fwd premia – 1 year fwd premia is at 1.62% p.a.
-Indian CPI and IIP data expected.
-US Fed meeting, ECB and BOE rate decisions are crucial events for the week.
-US CPI and retail sales data are other crucial events for the week.
USDINR outlook: RBI has been selling USD at higher levels, but accepting modest decline. USD INR pair closed at 83.38 in Nov as against 83.26 in Oct. FII’S have been net buyers in both Equity and debt segments in this Year. RBI could keep Rupee in the 83.25-83.45 range for some more weeks.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EUR | 100 YEN |
| 11-Dec-23 | 83.38 | 104.59 | 89.79 | 57.3 |
-Indian Equity indices trade flat.
-Indian 10 year G-SEC yield is at 7.27%.
-USDINR 1 yr fwd premia is at 1.62%.
USDINR @ 83.38, EUR/USD@ 1.0770, GBP/USD @ 1.2580, USD/JPY @ 145.49, EUR/INR @ 89.79, GBP/INR @ 104.88, JPY/INR @ 57.30. Gold@1986, Brent Crude @ 76.50, Nifty @ 20999(+2), 10 Year G-SEC @ 7.27%.
Hedging:
USDINR payables can be hedged on dips to 83.24/83.18 .
Eur receivables can be hedged now .
GBPINR receivables can be hedged now.
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