FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate March 7, 2024
Major developments:
USD is now at 82.77. USDINR opened at 82.83. Fwd premia – 1 year fwd premia is at 1.65% p.a.
-ECB rate decision, and employment data are key events for the week.
-Fed Chairman hinted at modest rate cuts this year.
-USDINR fwd premia for near months slump further with March fwds at around 1.5 ps.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EURO | 100 YEN |
| 6-Mar-24 | 82.91 | 105.33 | 90.01 | 55.31 |
-USDINR is at 82.77.Prior day’s close was 82.85.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.04%.
-USDINR 1 yr fwd premia is at 1.65.%.
USDINR @ 82.77, EUR/USD@ 1.0901, GBP/USD @ 1.2734, USD/JPY @ 148.56, EUR/INR @ 90.24, GBP/INR @ 105.40, JPY/INR @ 55.72. Gold@2155, Brent Crude @ 83, Nifty @ 22499(+25), 10 Year G-SEC @ 7.04%.
Hedging:
USDINR payables can be hedged at 82.60 . USD EXPORTS can be hedged at 82.85/82.95.
Eur receivables can be hedged a . GBPINR receivables can be hedged now.
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