FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate November 10, 2023
Major developments:
USD is now at 83.29. USDINR opened at 83.26. Fwd premia – 1 year fwd premia is at 1.56% p.a.
-USDINR fwd premia remains soft with 1 year at 1.56%.
-Fed Chairman sounded hawkish, indicating that victory over inflation is a long way ahead.
-Indian IIP and CPI are important data events in coming week.
RBI rates
Trade Date |
1 USD |
1 GBP |
1 EUR |
100 YEN |
9-Nov-23 |
83.28 |
102.3 |
89.17 |
55.16 |
-USDINR is at 83.29.Prior day’s close was 83.30.
-Indian Equity indices decline marginally.
-Indian 10 year G-SEC yield is at 7.29%.
-USDINR 1 yr fwd premia is at 1.56%.
USDINR @ 83.29, EUR/USD@ 1.0668, GBP/USD @ 1.2225, USD/JPY @ 151.38, EUR/INR @ 88.85, GBP/INR @ 101.82, JPY/INR @ 55.02 Gold@1956, Brent Crude @ 80.50, Nifty @ 19359(-37), 10 Year G-SEC @ 7.29%.
Hedging:
USDINR payables can be hedged on dipes to 83.10 . Eur receivables can be hedged now and on rally 89.70/90.10. GBPINR receivables can be hedged closer to 103.50.
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