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FX RATES AND USDINR FWDS :

By Goodwill
No Comments
January 9, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate January 9, 2024

Major developments:

USD is now at 83.10. USDINR opened at 83.05. Fwd premia – 1 year fwd premia is at 1.84% p.a.

-Indian CPI, IIP and US CPI are key events for the week.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
8-Jan-24	83.07	105.58	90.89	57.59

-USDINR is at 83.10.Prior day’s close was 83.14.

-Indian Equity indices climb..

-Indian 10 year G-SEC yield is at 7.19%.

-USDINR 1 yr fwd premia is at 1.84%.

USDINR @ 83.10, EUR/USD@ 1.0956, GBP/USD @ 1.2747, USD/JPY @ 143.62, EUR/INR @ 91.05, GBP/INR @ 105.94 JPY/INR @ 57.87. Gold@2033, Brent Crude @ 76.25, Nifty @ 21644(+132), 10 Year G-SEC @ 7.18%.

Hedging:

USDINR payables can be hedged on dips to 83.03/82.92 .

USD EXPORTS can be hedged at 83.35/83.40.

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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