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FX RATES AND USDINR FWDS :

FX RATES AND USDINR FWDS :
  • By Goodwill
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  • December 22, 2023

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate December 22, 2023

Major developments:

USD is now at 83.27. USDINR opened at 83.24. Fwd premia – 1 year fwd premia is at 1.73% p.a. 
 
-Focus will be on US Core PCE index, to be released today. This is the most preferred inflation gauge for Fed.
 
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
21-Dec-23 83.27 105.22 91.15 58.21
 
-USDINR is at 83.27.Prior day’s close was 83.25.
 
-Indian Equity indices climb.
 
-Indian 10 year G-SEC yield is at 7.19%.
 
-USDINR 1 yr fwd premia is at 1.73%.
 
USDINR @ 83.27, EUR/USD@ 1.0998, GBP/USD @ 1.2685, USD/JPY @ 142.47, EUR/INR @ 91.56, GBP/INR @ 105.61, JPY/INR @ 58.44. Gold@2048, Brent Crude @ 80, Nifty @ 21365(+115), 10 Year G-SEC @ 7.19%.
 
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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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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