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FX RATES AND USDINR FWDS :

FX RATES AND USDINR FWDS :
  • By Goodwill
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  • January 29, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate January 29, 2024

Major developments:

USD is now at 83.14. USDINR opened at 83.14. Fwd premia – 1-year fwd premia is at 1.87% p.a.
 
-Indian Budget will take center stage this week.
 
-Focus is on US Fed meeting, ISM(mfrg) and employment data
 
-EU CPI data is due for release.
 
RBI rates
Trade Date 1 USD 1 GBP 1 EURO 100 YEN
25-Jan-24 83.115 105.65 90.41 56.23
-USDINR is at 83.14.Prior day’s close was 83.115.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.18%.
-USDINR 1 yr fwd premia is at 1.87%.
USDINR @ 83.14, EUR/USD@ 1.0845, GBP/USD @ 1.2708, USD/JPY @ 148.07, EUR/INR @ 90.30, GBP/INR @ 105.65, JPY/INR @ 56.15. Gold@2026, Brent Crude @ 83.45, Nifty @ 21572(+222), 10 Year G-SEC @ 7.18%.
 
Hedging:
USDINR payables can be hedged at 82.92/82.85 . 
USD EXPORTS can be hedged at 83.35/83.40.
Eur payables 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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