FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate January 31, 2024
Major developments:
USD is now at 83.10. USDINR opened at 83.12. Fwd premia – 1 year fwd premia is at 1.88% 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 |
| 30-Jan-24 | 83.12 | 105.61 | 89.96 | 56.42 |
-USDINR is at 83.10.Prior day’s close was 83.11.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.14%.
-USDINR 1 yr fwd premia is at 1.88%.
USDINR @ 83.10, EUR/USD@ 1.0819, GBP/USD @ 1.2677, USD/JPY @ 147.64, EUR/INR @ 89.90, GBP/INR @ 105.33, JPY/INR @ 56.28. Gold@2033, Brent Crude @ 82, Nifty @ 21627(+106), 10 Year G-SEC @ 7.14%.
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 . GBPINR
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