FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate February 2, 2024
Major developments:
USD is now at 82.87. USDINR opened at 82.92. Fwd premia – 1 year fwd premia is at 1.81% p.a.
-Fiscal consolidation drives Indian 10 Year G-SEC to 6 months low of 7.03%.
-USDINR fwds decline, tracking lower G-SEC yield.
-Focus is on US employment data
-BOE maintained status quo on rates with divergent views on rate path.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 1-Feb-24 | 82.95 | 105.09 | 89.61 | 56.47 |
-USDINR is at 82.87.Prior day’s close was 82.98.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.03%.
-USDINR 1 yr fwd premia is at 1.81%.
USDINR @ 82.87, EUR/USD@ 1.0875, GBP/USD @ 1.2744, USD/JPY @ 146.43, EUR/INR @ 90.10, GBP/INR @ 105.62, JPY/INR @ 56.59. Gold@2054, Brent Crude @ 79, Nifty @ 21932(+237), 10 Year G-SEC @ 7.03%.
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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