FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate October 27, 2023
Major developments:
USD is now at 83.24. USDINR opened at 83.22. Fwd premia – 1 year fwd premia is at 1.74% p.a.
-US GDP climbed 4.95 q/q and 2.9% y/y. Durables data and home sales data were strong.
-ECB held rates steady.
-US Income and Core PCE data are important data events for the day.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EUR | 100 YEN |
| 26-Oct-23 | 83.24 | 100.51 | 87.7 | 55.22 |
-USDINR is at 83.24.Prior day’s close was 83.25.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.35%.
-USDINR 1 yr fwd premia is at 1.74%.
USDINR @ 83.24, EUR/USD@ 1.0567, GBP/USD @ 1.2136, USD/JPY @ 150.24, EUR/INR @ 87.94, GBP/INR @ 101.02, JPY/INR @ 55.41. Gold@1989, Brent Crude @ 89, Nifty @ 19004(+147), 10 Year G-SEC @ 7.35%.
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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