FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate January 30, 2024
Major developments:
USD is now at 83.13. USDINR opened at 83.11. Fwd premia – 1 year fwd premia is at 1.88% p.a.
-Indian Budget will take center stage this week.
-Euro declined as ECB members hinted at April or June rate cuts.
-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 |
| 29-Jan-24 | 83.15 | 105.66 | 90.16 | 56.2 |
-USDINR is at 83.13.Prior day’s close was 83.15.
-Indian Equity indices trade flat.
-Indian 10 year G-SEC yield is at 7.15%.
-USDINR 1 yr fwd premia is at 1.88%.
USDINR @ 83.13, EUR/USD@ 1.0825, GBP/USD @ 1.2706, USD/JPY @ 147.37, EUR/INR @ 89.99, GBP/INR @ 105.62, JPY/INR @ 56.41. Gold@2031, Brent Crude @ 82, Nifty @ 21738(), 10 Year G-SEC @ 7.15%.
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 at 89.20/88.50 .
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