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FX RATES AND USDINR FWDS :

By Goodwill
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January 2, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate January 2, 2024

Major developments:

USD is now at 83.31. USDINR opened at 83.27. Fwd premia – 1 year fwd premia is at 1.72% p.a.

– US ISM (mfrg), FOMC Minutes, employment data and EU CPI are focus events for the week.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
1-Jan-24	83.2	105.95	91.84	58.99

-USDINR is at 83.31.Prior day’s close was 83.24.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 7.20%.

-USDINR 1 yr fwd premia is at 1.72%.

USDINR @ 83.31, EUR/USD@ 1.1020, GBP/USD @ 1.2713, USD/JPY @ 141.56, EUR/INR @ 92.14, GBP/INR @ 105.92, JPY/INR @ 58.85. Gold@2070, Brent Crude @ 78.25, Nifty @ 21635(-107), 10 Year G-SEC @ 7.20%.

Hedging:

USDINR payables can be hedged on dips to 83.27/83.30 .

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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