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FX RATES AND USDINR FWDS :

FX RATES AND USDINR FWDS :
  • By Goodwill
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  • January 12, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate January 12, 2024

Major developments:

USD is now at 82.98. USDINR opened at 83.06. Fwd premia – 1 year fwd premia is at 1.86% p.a.
 
-US CPI climbed 3.4% y/y as against consensus of 3.1% y/y.
 
-Higher than expected CPI data implies that a return to 2% inflation will be gradual.
 
-Fed may push back rate cuts to Q2.
 
-Rupee gains on strong inflows.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EURO 100 YEN
11-Jan-24 82.94 105.93 91.11 57.02
 
-USDINR is at 82.98.Prior day’s close was 83.03.
 
-Indian Equity indices gain.
 
-Indian 10 year G-SEC yield is at 7.17%.
 
-USDINR 1 yr fwd premia is at 1.86%.
 
USDINR @ 82.98, EUR/USD@ 1.0975, GBP/USD @ 1.2770, USD/JPY @ 145.19, EUR/INR @ 91.08, GBP/INR @ 105.95 JPY/INR @ 57.15. Gold@2035, Brent Crude @ 79, Nifty @ 21838(+190), 10 Year G-SEC @ 7.17%.
 
Hedging:
USDINR payables can be hedged now . 
USD EXPORTS can be hedged at 83.35/83.40.
Eur receivables can be hedged now . 
GBPINR receivables can be hedged now.
 
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Risk Disclosures
on Derivatives

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Source: SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

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