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 ca
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