FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate September 14, 2023
Major developments:
USD is now at 82.95. USDINR opened at 82.95. Fwd premia – 1 year fwd premia is at 1.78% p.a.
-US CPI climbed 0.6% m/m. Core CPI climbed 3.7% y/y.
-US CPI reading was mixed and impact on markets was muted.
-ECB meeting is a key event for the day.
-US PPI and retail sales are other important data releases for the day.
USDINR View: Expect 83.30/83.60 as possible levels for USDINR this month. On the downside, it needs to break 82.80 to move back down to 82.55.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EUR | 100 YEN |
| 13-Sep-23 | 82.95 | 103.29 | 89.11 | 56.33 |
-USDINR is at 82.95.Prior day’s close was 82.96.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.14%.
-USDINR 1 yr fwd premia is at 1.78%.
USDINR @ 82.95, EUR/USD@ 1.0751, GBP/USD @ 1.2504, USD/JPY @ 147.12, EUR/INR @ 89.16, GBP/INR @ 103.72, JPY/INR @ 56.38.
Gold@1910, Brent Crude @ 92.45, Nifty @ 20110(+41), 10 Year G-SEC @ 7.14%.
Hedging:
USDINR payables can be hedged at 82.80. Eur receivables can be hedged on rally to 89.80.
GBPINR receivables can be hedged closer to 105.50/106.
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