FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate November 24, 2023
Major developments:
USD is now at 83.36. USDINR opened at 83.33. Fwd premia – 1 year fwd premia is at 1.60% p.a.
-ECB minutes indicated that higher rates will prevail for long and until inflation comes to target levels.
-OPEC is meeting on Nov 26 th and could consider extending supply cuts.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EUR | 100 YEN |
| 23-Nov-23 | 83.36 | 104.29 | 90.95 | 55.94 |
-USDINR is at 83.36.Prior day’s close was 83.33.
-Indian Equity indices trades flat.
-Indian 10 year G-SEC yield is at 7.27%.
-USDINR 1 yr fwd premia is at 1.60%.
USDINR @ 83.36, EUR/USD@ 1.0905, GBP/USD @ 1.2540, USD/JPY @ 149.26, EUR/INR @ 90.89, GBP/INR @ 104.51, JPY/INR @ 55.84 Gold@1993, Brent Crude @ 81.25, Nifty @ 19802(+0), 10 Year G-SEC @ 7.27%.
Hedging:
USDINR payables can be hedged on dips to 83.10 . Eur receivables can be hedged now .
GBPINR receivables can be hedged now.
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