FX RATES AND USDINR FWDS :
FX Rates and USD INR Forward Rate September 8, 2023
Major developments:
USD is now at 83.17. USDINR opened at 83.15. Fwd premia – 1 year fwd premia is at 1.71% p.a.
USDINR View: USDINR has broken 82.95 and is close to 83.18. 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 82.35.
RBI rates
| Trade Date | 1 USD | 1 GBP | 1 EUR | 100 YEN |
| 07-Sep-23 | 83.18 | 103.96 | 89.18 | 56.4 |
-USDINR is at 83.17.Prior day’s close was 83.15.
-Indian Equity indices climb.
-Indian 10 year G-SEC yield is at 7.17%.
-USDINR 1 yr fwd premia is at 1.71%.
USDINR @ 83.17, EUR/USD@ 1.0716, GBP/USD @ 1.2493, USD/JPY @ 147.19, EUR/INR @ 89.12, GBP/INR @ 103.91, JPY/INR @ 56.50.
Gold@1948, Brent Crude @ 89.50, Nifty @ 19783(+56), 10 Year G-SEC @ 7.17%.
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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