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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