FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate March 18, 2024
Major developments:
USD is now at 82.88. USDINR opened at 82.84. Fwd premia – 1 year fwd premia is at 1.56% p.a.
–US Fed meeting is the crucial event for the week.
– India Trade deficit widened in Feb to USD 18.71 bn from Jan data of USD 17.49 bn. Exports expanded to USD 41.40 bn from USD 36.92 bn in Jan. Imports also rose to USD 60.11 bn from USD 54.41 bn.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 15-Mar-24 | 82.89 | 105.58 | 90.16 | 55.9 |
-USDINR is at 82.88.Prior day’s close was 82.84.
-Indian Equity indices decline marginally.
-Indian 10 year G-SEC yield is at 7.07%.
-USDINR 1 yr fwd premia is at 1.57.%.
USDINR @ 82.88, EUR/USD@ 1.0887, GBP/USD @ 1.2730, USD/JPY @ 149.12, EUR/INR @ 90.30, GBP/INR @ 105.51, JPY/INR @ 55.58. Gold@2147, Brent Crude @ 85.65, Nifty @ 22005(-23), 10 Year G-SEC @ 7.08%.
Hedging:
USDINR payables can be hedged at 82.60 . USD EXPORTS can be hedged at 82.90+.
Eur receivables can be hedged . GBPINR receivables ca
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