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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