FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate March 26, 2024
Major developments:
USD is now at 83.34. USDINR opened at 83.23. Fwd premia – 1 year fwd premia is at 1.57% p.a.
-RBI took delivery of USD 5 bn swap, creating USD shortage. Month end USD payments also weighed down on Rupee. Rupee has retraced to 83.33 from last week close of 83.67.
-US Core PCE index is the key event for the week.
RBI rates
Trade Date |
1 USD |
1 GBP |
1 EURO |
100 YEN |
22-Mar-24 |
83.35 |
105.25 |
90.26 |
55.05 |
-USDINR is at 83.34.Prior day’s close was 83.67.
-Indian Equity indices decline.
-Indian 10 year G-SEC yield is at 7.09%.
-USDINR 1 yr fwd premia is at 1.57.%.
USDINR @ 83.34, EUR/USD@ 1.0846, GBP/USD @ 1.2645, USD/JPY @ 151.34, EUR/INR @ 90.37, GBP/INR @ 105.38, JPY/INR @ 55.07. Gold@2173, Brent Crude @ 86, Nifty @ 22038(-55), 10 Year G-SEC @ 7.09%.
Hedging:
USDINR receivables can be hedged .
Eur receivables can be hedged . GBPINR receivables can be hedged now.
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