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FX RATES AND USDINR FWDS :

By Goodwill
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July 22, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate July 22, 2024

Major developments:

USD is now at 83.67. USDINR opened at 83.65. Fwd premia – 1 year fwd premia is at 1.75% p.a.

-Economic survey says that GDP will grow by 6.5% to 7% this fiscal.

-Food inflation climbed to 7.5% in FY 24.

-Union Budget is the major event.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
19-Jul-24	83.64	108.16	91.06	53.01

-USDINR is at 83.67.Prior day’s close was 83.67.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 6.97%.

-USDINR 1 yr fwd premia is at 1.75%.

USDINR @ 83.67, EUR/USD@ 1.0890, GBP/USD @ 1.2928, USD/JPY @ 156.87, EUR/INR @ 91.11, GBP/INR @ 108.16, JPY/INR @ 53.33. Gold@2403, Brent Crude @ 83, Nifty @ 24516(-14), 10 Year G-SEC @ 6.97%.

Hedging:

USDINR receivables can be hedged at 83.65+.

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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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