FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate February 1, 2024
Major developments:
USD is now at 82.99. USDINR opened at 82.98. Fwd premia – 1 year fwd premia is at 1.88% p.a.
-Indian Budget is being presented now.
-Focus is on US ISM(mfrg) and employment data
-Fed maintained status quo and ruled out March rate hike.
-BOE is also meeting today.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 31-Jan-24 | 83.08 | 105.31 | 89.88 | 56.2 |
-USDINR is at 82.99.Prior day’s close was 83.05.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.13%.
-USDINR 1 yr fwd premia is at 1.88%.
USDINR @ 82.99, EUR/USD@ 1.0810, GBP/USD @ 1.2681, USD/JPY @ 146.72, EUR/INR @ 89.69, GBP/INR @ 105.20, JPY/INR @ 56.55. Gold@2046, Brent Crude @ 81, Nifty @ 21772(+47), 10 Year G-SEC @ 7.13%.
Hedging:
USDINR payables can be hedged at 82.92/82.85 . USD EXPORTS can be hedged at 83.35/83.40.
Eur payables can be hedged at 89.20/88.50 . GBPINR
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