FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate September 28, 2023
Major developments:
USD is now at 83.14. USDINR opened at 83.21. Fwd premia – 1 year fwd premia is at 1.80% p.a.
-Rupee weakness is contained by RBI’S sporadic intervention.
-USD Index climbed as US 10 Year yield spiked to 4.61%.
-Brent Crude climbed to USD 95 on shrinking US inventories.
-US GDP and Core PCE index are important events for this week.
USDINR View: RBI’S intervention keeps Rupee away from significant decline. On the downside, USDINR may have strong support at 82.80/82.65. Rupee’s Monthly range (hi/lo) is the lowest in last 15 months. It shows how volatility is being controlled by RBI. Implied volatility is below 3% p.a. now. It used to average 5% and spike to 8% during Rupee weakness.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EUR | 100 YEN |
| 27-Sep-23 | 83.22 | 101.11 | 87.92 | 55.81 |
-USDINR is at 83.14.Prior day’s close was 83.23.
-Indian Equity indices decline.
-Indian 10 year G-SEC yield is at 7.21%.
-USDINR 1 yr fwd premia is at 1.80%.
USDINR @ 83.14, EUR/USD@ 1.0508, GBP/USD @ 1.2144, USD/JPY @ 149.28, EUR/INR @ 87.36, GBP/INR @ 100.96, JPY/INR @ 55.70.
Gold@1875, Brent Crude @ 94.85., Nifty @ 19705(-11), 10 Year G-SEC @ 7.21%.
Hedging: USDINR payables can be hedged at 82.90/82.65. Eur receivables can be hedged on rally to 88/88.70. GBPINR receivables can be hedged closer to 102.65/103.75.
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