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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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