FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate March 1, 2024
Major developments:
USD is now at 82.87. USDINR opened at 82.87. Fwd premia – 1 year fwd premia is at 1.65% p.a.
-Indian Q3 GDP stunned expectations to climb by 8.4%.
-FY 24 GDP is expected to climb by 7.6%.
-Indian Equities cheer GDP data.
-USDINR Fwd premia softens to 1.65% p.a. for 1 Year.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EUR | 100 YEN |
| 29-Feb-24 | 82.92 | 105.03 | 89.86 | 55.36 |
-USDINR is at 82.87.Prior day’s close was 82.91.
-Indian Equity indices surge.
-Indian 10 year G-SEC yield is at 7.07%.
-USDINR 1 yr fwd premia is at 1.65.%.
USDINR @ 82.87, EUR/USD@ 1.0810, GBP/USD @ 1.2628, USD/JPY @ 150.37, EUR/INR @ 89.59, GBP/INR @ 104.65, JPY/INR @ 55.11. Gold@2047, Brent Crude @ 82.25, Nifty @ 22270(+287), 10 Year G-SEC @ 7.07%.
Hedging:
USDINR payables can be hedged at 82.85 . USD EXPORTS can be hedged at 82.86/83.10.
Eur receivables can be hedged at 90.10 . GBPINR receivables can be hedged now.
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