FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate February 8, 2024
Major developments:
USD is now at 82.95. USDINR opened at 82.94. Fwd premia – 1 year fwd premia is at 1.79% p.a.
-RBI maintained status quo on rates . Repo rates left unchanged at 6.5%.
-FY 2025 GDP is expected to be 7% with inflation at 4.5%.
-RBI Governor said that the central bank has maintained its present position on monetary stance.
-No major reaction in markets. USDINR is at 82.95, Nifty marginally down and 10 Year yield is at 7.09%.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 7-Feb-24 | 82.98 | 104.58 | 89.29 | 56.05 |
-USDINR is at 82.95.Prior day’s close was 82.97.
-Indian Equity indices decline marginally.
-Indian 10 year G-SEC yield is at 7.09%.
-USDINR 1 yr fwd premia is at 1.79%.
USDINR @ 82.95, EUR/USD@ 1.0780, GBP/USD @ 1.2630, USD/JPY @ 148.56, EUR/INR @ 89.42, GBP/INR @ 104.77, JPY/INR @ 55.83. Gold@2032, Brent Crude @ 79.45, Nifty @ 21892(-33), 10 Year G-SEC @ 7.09%.
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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