FX Rates and USD INR Forward Rate July 07, 2023

Major developments:

USD is now at 82.43. USDINR opened at 82.36. Fwd premia – 1 year fwdpremia is at 1.60% p.a.
-Fed’s minutes indicated further rate hikes. Members were concerned about inflation and tight labor market. Earlier expectation was for one rate hike in July.
-Eur/USD fell to 1.0840.
-US Yields inched higher with 10 Year at 3.94%.
-Due to climb in US Yields, USDINR fwd premia softened to 1.6% annualized for 1 year.-Indian PMI(services) remained robust at 58.5. However, it has declined from May levels.
-US employment, ISM(services) data, ADP employment report are important events for the week.

RBI ref rates

Thank you for reading this post, don't forget to subscribe!

-USDINR is at 82.43. Prior day’s close was 82.22.-Indian Equity indices climb.

-Indian 10 year G-SEC yield is at 7.13%.

-USDINR 1 yr fwd premia is at 1.60%.USDINR @ 82.43, EUR/USD@ 1.0843, GBP/USD @ 1.2704, USD/JPY @ 143.89, EUR/INR @ 89.38, GBP/INR @ 104.72, JPY/INR @ 57.28Gold@1925, Brent Crude @ 76.40, Nifty @ 19453(+54), 10 Year G-SEC @ 7.13%.

Click to open an Account : https://ekyc.gwcindia.in/client/

For all your investment needs feel free to reach us.

Give us Missed Call us on 90037 90027 . For Support : 044-40329999