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FX RATES AND USDINR FWDS :

By Goodwill
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July 29, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate July 29, 2024

Major developments:

USD is now at 83.73. USDINR opened at 83.70. Fwd premia – 1 year fwd premia is at 1.84% p.a.

-USDINR fwd premia is edging higher. Spot is also under pressure due to month end

importers demand.

-US Fed, BOJ and BOE meetings are crucial events for the week.

-US non farm payrolls is a key data event on Friday.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
26-Jul-24	83.72	107.68	90.86	54.48

-USDINR is at 83.73.Prior day’s close was 83.74.

-Indian Equity indices climb.

-Indian 10 year G-SEC yield is at 7.03%.

-USDINR 1 yr fwd premia is at 1.84%.

USDINR @ 83.73, EUR/USD@ 1.0859, GBP/USD @ 1.2872, USD/JPY @ 153.37, EUR/INR @ 90.93, GBP/INR @ 107.78, JPY/INR @ 54.60. Gold@2392, Brent Crude @ 80.75, Nifty @ 24951(+117), 10 Year G-SEC @ 7.03%.

Hedging:

USDINR receivables can be hedged.

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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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