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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