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FX RATES AND USDINR FWDS :

By Goodwill
No Comments
March 13, 2024

FX RATES AND USDINR FWDS :

FX Rates and USD INR Forward Rate March 13, 2024

Major developments:

USD is now at 82.86. USDINR opened at 82.84. Fwd premia – 1 year fwd premia is at 1.65% p.a.

-Indian Feb CPI climbed 5.1%, core CPI eased to 3.3%.

-IIP climbed 3.8% in Jan.

-US CPI climbed 0.4% m/m. This is higher than expected.

-US retail sales is in focus.

RBI rates

Trade Date	1 USD	1 GBP	1 EURO	100 YEN
12-Mar-24	82.75	106.05	90.5	56.14

-USDINR is at 82.86.Prior day’s close was 82.78.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 7.03%.

-USDINR 1 yr fwd premia is at 1.65.%.

USDINR @ 82.86, EUR/USD@ 1.0924, GBP/USD @ 1.2791, USD/JPY @ 147.54, EUR/INR @ 90.53, GBP/INR @ 106, JPY/INR @ 56.17. Gold@2158, Brent Crude @ 82.40, Nifty @ 22301(-32), 10 Year G-SEC @ 7.03%.

Hedging:

USDINR payables can be hedged at 82.60 . USD EXPORTS can be hedged at 82.85/82.95.

Eur receivables can be hedged . GBPINR receivables can be hedged now.

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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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