FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate November 02, 2023
Major developments:
USD is now at 83.25. USDINR opened at 83.22. Fwd premia – 1 year fwd premia is at 1.62% p.a.
-US FED held rates steady and indicated higher rates for a longer time , but without committing for further rate hike.
-Indian PMI(mfrg) fell to 8 month low of 55.5
-US NFP is another important data release.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EUR | 100 YEN |
| 1-Nov-23 | 83.28 | 101.11 | 88.04 | 55.06 |
-USDINR is at 83.25.Prior day’s close was 83.31.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.33%.
-USDINR 1 yr fwd premia is at 1.62%.
USDINR @ 83.25, EUR/USD@ 1.0599, GBP/USD @ 1.2182, USD/JPY @ 150.43, EUR/INR @ 88.25, GBP/INR @ 101.41, JPY/INR @ 55.35 Gold@1985, Brent Crude @ 85.35, Nifty @ 19088(+98), 10 Year G-SEC @ 7.33%.
Hedging:
USDINR payables can be hedged on dipes to 83.10 . Eur receivables can be hedged now and on rally 88.70. GBPINR receivables can be hedged closer to 102.40/103.50.
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