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
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