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FX RATES AND USDINR FWDS :

By Goodwill
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July 10, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate July 10, 2024

Major developments:

USD is now at 83.49. USDINR opened at 83.49. Fwd premia – 1 year fwd premia is at 1.66% p.a.

-Fed Chairman hinted that rate cuts are nearing as balance of risks is even. He implied that economic slow down due to restrictive monetary policy is as much as a risk now as inflation is.

-Focus is on Indian and US CPI data.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
9-Jul-24	83.48	106.92	90.39	51.9

-USDINR is at 83.49.Prior day’s close was 83.50.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 6.99%.

-USDINR 1 yr fwd premia is at 1.66%.

USDINR @ 83.49, EUR/USD@ 1.0816, GBP/USD @ 1.2790, USD/JPY @ 161.50, EUR/INR @ 90.30, GBP/INR @ 106.78, JPY/INR @ 51.70. Gold@2368, Brent Crude @ 84.25, Nifty @ 24216(-217), 10 Year G-SEC @ 6.99%.

Hedging:

USDINR receivables can be hedged at 83.60+.

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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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