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FX RATES AND USDINR FWDS :

By Goodwill
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June 28, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate June 28, 2024

USD is now at 83.58. USDINR opened at 83.41. Fwd premia – 1 year fwd premia is at 1.64% p.a.

-Focus is on US PCE data.

-Fed member said that it is not appropriate to cut rates now as inflation risks remain.

-Indian Equity markets continue to climb in anticipation of important economic decisions in budget.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
27-Jun-24	83.49	105.51	89.28	52.05

-USDINR is at 83.45.Prior day’s close was 83.45.

-Indian Equity indices climb.

-Indian 10 year G-SEC yield is at 6.99%.

-USDINR 1 yr fwd premia is at 1.64%.

USDINR @ 83.45, EUR/USD@ 1.0688, GBP/USD @ 1.2624, USD/JPY @ 161.12, EUR/INR @ 89.18, GBP/INR @ 105.36, JPY/INR @ 51.79. Gold@2320, Brent Crude @ 85.65, Nifty @ 24158(+114), 10 Year G-SEC @ 6.99%.

Hedging:

USDINR receivables can be hedged at 83.60+.

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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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