FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate July 5, 2024
Major developments:
USD is now at 83.51. USDINR opened at 83.49. Fwd premia – 1 year fwd premia is at 1.62% p.a.
-Focus is on US employment data.
-Euro inched higher as ECB indicated that it may not lower rates immediately.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 4-Jul-24 | 83.5 | 106.45 | 90.11 | 51.73 |
-USDINR is at 83.51.Prior day’s close was 83.52.
-Indian Equity indices decline.
-Indian 10 year G-SEC yield is at 7%.
-USDINR 1 yr fwd premia is at 1.62%.
USDINR @ 83.51, EUR/USD@ 1.0822, GBP/USD @ 1.2770, USD/JPY @ 160.69, EUR/INR @ 90.36, GBP/INR @ 106.63, JPY/INR @ 51.96. Gold@2363, Brent Crude @ 87.10, Nifty @ 24246(-55), 10 Year G-SEC @ 7%.
Hedging:
USDINR receivables can be hedged at 83.60+.
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