FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate September 15, 2023
Major developments:
USD is now at 83.07. USDINR opened at 83.05. Fwd premia – 1 year fwd premia is at 1.76% p.a.
-EURO broke down and USD Index climbed as ECB hinted that rates have peaked and revised
economic projections downward.
-Oil climbed to USD 94 on expectation of increase in Chinese demand and tighter supplies.
-US retail sales climbed 0.6% m/m, better than expected.
-US PPI climbed 0.7% m/m , higher than consensus.
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 |
| 14-Sep-23 | 82.97 | 103.68 | 89.15 | 56.39 |
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.10%.
-USDINR 1 yr fwd premia is at 1.76%.
USDINR @ 83.07, EUR/USD@ 1.0650, GBP/USD @ 1.2425, USD/JPY @ 147.50, EUR/INR @ 88.48, GBP/INR @ 103.22, JPY/INR @ 56.32.
Gold@1915, Brent Crude @ 94.50, Nifty @ 20149(+45), 10 Year G-SEC @ 7.10%.
Hedging:
USDINR payables can be hedged at 82.80. Eur receivables can be hedged on rally to 89/89.50.
GBPINR receivables can be hedged closer to 104.50/105.
Click to open an Account : https://ekyc.gwcindia.in/client/
For all your investment needs feel free to reach us.
Give us Missed Call us on 90037 90027 . For Support : 044-40329999