FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate July 3, 2024
Major developments:
USD is now at 83.52. USDINR opened at 83.51. Fwd premia – 1 year fwd premia is at 1.64% p.a.
-Focus is on US employment data.
-Indian Equity markets continue to climb in anticipation of important economic decisions in budget.
-Fed Chairman says that Fed actions have helped to put inflation on a declining mode, but wants to see sustainable progress around 2%.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 2-Jul-24 | 83.51 | 105.55 | 89.64 | 51.65 |
-USDINR is at 83.52.Prior day’s close was 83.52.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7%.
-USDINR 1 yr fwd premia is at 1.64%.
USDINR @ 83.52, EUR/USD@ 1.0739, GBP/USD @ 1.2681, USD/JPY @ 161.80, EUR/INR @ 89.70, GBP/INR @ 105.89, JPY/INR @ 51.62. Gold@2334, Brent Crude @ 86.50, Nifty @ 24270(+147), 10 Year G-SEC @ 7%.
Hedging: USDINR receivables can be hedged at 83.60+.
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