FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate February 16, 2024
Major developments:
USD is now at 83.01. USDINR opened at 83.02. Fwd premia – 1 year fwd premia is at 1.76% p.a.
-Indian PMI(mfrg) rose to 56.5 in Jan. PMI(services) climbed to 61.8 in Jan.
-US PPI and housing data are focus events.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 15-Feb-24 | 83.02 | 104.32 | 89.06 | 55.27 |
-USDINR is at 83.01.Prior day’s close was 83.05.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.08%.
-USDINR 1 yr fwd premia is at 1.76.%.
USDINR @ 83.01, EUR/USD@ 1.0761, GBP/USD @ 1.2584, USD/JPY @ 150.28, EUR/INR @ 89.31, GBP/INR @ 104.47, JPY/INR @ 55.24. Gold@2003, Brent Crude @ 83, Nifty @ 22029(+118), 10 Year G-SEC @ 7.08%.
Hedging:
USDINR payables can be hedged at 82.92/82.85 . USD EXPORTS can be hedged at 83.18/83.35.
Eur payables can be hedged at 88.50 . GBPINR receivables can be hedged at 105+.
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