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FX rates and USDINR

By Goodwill
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January 18, 2024

FX rates and USDINR

FX Rates and USD INR Forward Rate January 18, 2024

Major developments:

USD is now at 83.155. USDINR opened at 83.15. Fwd premia – 1 year fwd

premia is at 1.87% p.a.

The focus is on the ECB meeting.

-US retail sales climbed 0.6% m/m, better than expected.

-Indian indices are dragged down due to weakness in private bank stocks

-HDFC bank leads bank stock meltdown.

RBI rates

-USDINR is at 83.15.Prior day’s close was 83.15.

-Indian Equity indices decline.

-Indian 10-year G-SEC yield is at 7.17%.

-USDINR 1 yr fwd premia is at 1.87%.

USDINR @ 83.15, EUR/USD@ 1.0892, GBP/USD @ 1.2681, USD/JPY @ 148, EUR/INR @ 90.57,

GBP/INR @ 105.44, JPY/INR @ 56.17

Gold@2007, Brent Crude @ 78, Nifty @ 21462(-110), 10 Year G-SEC @ 7.17%.

Hedging: USD INR payables can be hedged at 82.92/82.85. 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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