FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate December 21, 2023
Major developments:
USD is now at 83.24. USDINR opened at 83.18. Fwd premia – 1 year fwd premia is at 1.73% p.a.
-Focus will be on US Core PCE index, to be released on Friday. This is the most preferred inflation gauge for Fed.
-Rupee declined to 83.25 today.
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 |
| 20-Dec-23 | 83.15 | 105.75 | 91.14 | 57.86 |
-USDINR is at 83.24.Prior day’s close was 83.20.
-Indian Equity indices decline.
-Indian 10 year G-SEC yield is at 7.16%.
-USDINR 1 yr fwd premia is at 1.73%.
USDINR @ 83.24, EUR/USD@ 1.0949, GBP/USD @ 1.2639, USD/JPY @ 142.94, EUR/INR @ 91.12, GBP/INR @ 105.20, JPY/INR @ 58.23. Gold@2037, Brent Crude @ 79, Nifty @ 21050(-91), 10 Year G-SEC @ 7.16%.
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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